Question

To ask the Secretary of State for Business, Innovation and Skills, what recent assessment he has made of the potential effect of the proposed Transatlantic Trade and Investment Partnership agreement on (a) the UK economy as a whole, (b) each region and nation of the UK's economy, (c) each business sector in the UK economy, (d) large UK businesses and (e) UK SMEs.

An independent assessment of the potential economic impact of the Transatlantic Trade and Investment Partnership (TTIP) on the UK as a whole was carried out by the Centre for Economic Policy Research (CEPR). The CEPR analysis includes an assessment of the impact on twenty broad sectors of the economy, with estimated impacts on output, trade and shifts in employment. This can be found on the GOV.UK website.

The CEPR assessment demonstrated that TTIP offers an enormous economic benefit: in growth, exports and high quality jobs, worth up to £10 billion a year. Small businesses in particular will benefit from removing unnecessary barriers to trade.