Exiting the EU

Viscount Hailsham Excerpts

Monday 9th July 2018 Lords Chamber

[Baroness Evans of Bowes Park]

I thank the noble Lord for his question. We believe that this is a business-friendly model which will seek to facilitate the greatest possible trade between the UK and its trading partners, whether in Europe or the rest of the world, while allowing the UK to set its tariffs. There will be no new routine checks or controls for UK businesses trading with the EU. In relation to his suggestion of a smugglers’ paradise, the proposal includes additional behind-the-border enforcement to prevent third-country trading countries from seeking access to the UK through trade circumvention rather than through agreeing free trade agreements with preferential tariffs.

[Viscount Hailsham (Con)]

Will my noble friend tell the House what the Government propose to do to ensure that British financial institutions have continuous and successful access to the European market? The Statement is remarkably silent on that matter.