Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential economic effect on the (a) pharmaceuticals, (b) aerospace, (c) vehicle manufacturing, (d) financial services, (e) agriculture and (f) creative industries of reverting to trade on World Trade Organisation terms as a result of the UK leaving the EU.

The Government continues to undertake a range of analyses to inform the UK’s position for the upcoming EU exit negotiations. As the Prime Minister has said, we will pursue a bold and ambitious Free Trade Agreement with the European Union as a priority to allow for the greatest possible trade in goods and services between Britain and EU member states.