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(asked on 30th December 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential effect of the UK-EU Trade and Cooperation Agreement on (a) UK wages and (b) trends in the National Living Wage.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 12th January 2021

This is the first free trade agreement the EU has ever reached based on zero tariffs and zero quotas. It is an excellent outcome for families and businesses in every part of the UK. Businesses will be able to continue to trade smoothly, selling to their customers in the EU. From financial services through to automotive manufacturing, the deal protects high quality jobs and investment right across the UK. People will be able to continue to buy goods from Europe tariff-free, protecting consumer prices.

The Government remains committed to its longer-term target for the National Living Wage to reach two thirds of median earnings by 2024, provided economic conditions allow.

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