Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of the potential long-term tariff revenue impact of the Developing Countries Trading Scheme.
The Department has not undertaken a quantitative assessment of the future long-term tariff revenue impact of the DCTS. Before launching the DCTS, the Department estimated based on historical trade patterns, annual tariff savings of up to £770 million to UK imports, benefitting UK businesses and consumers. The Scheme's primary objective is to support trade-led growth and poverty reduction in developing countries. Any long-term impact on UK tariff revenue is expected to be modest and proportionate to the development benefits it delivers.