Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether his Department has commissioned cost-benefit analysis of the potential effect of the UK leaving the single market and the customs union on the UK's balance of trade.

The Government continues to undertake a range of analyses to inform the UK’s position for the upcoming EU exit negotiations. We are seeking the best possible arrangement for trade in goods and services and the work being conducted reflects this.

The UK’s future relationship with the EU will be contingent on the exit negotiations and the Government will not provide a running commentary on these negotiations.