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Wes Streeting
Main Page: Wes Streeting (Labour - Ilford North)Department Debates - View all Wes Streeting's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Margot James
The Government are committed to negotiating a full and open trade agreement with the European Union on our departure. As my right hon. Friend the Secretary of State said earlier, we are aiming for a situation in which no tariffs are applied to SMEs that export into the single market and there is no unnecessary bureaucracy.
Wes Streeting (Ilford North) (Lab)
Many SMEs in my constituency are part of European and global supply chains. Does the Minister understand that those businesses, as well as larger financial services businesses, need clarity and certainty? When will she and the Government be in a position to give those businesses certainty about the transitional arrangements that will be put in place? As she knows, businesses are already making investment or de-investment decisions.
Margot James
The hon. Gentleman’s points are valid, but they are part of the ongoing negotiations, which, as he knows, have some way to go. However, we are defending our position as the No. 1 destination for foreign direct investment, and we will ensure that SMEs have a strong position in global supply chains into the future.