European Trade 2022-11-03
2022-11-03
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Response quality
Questions & Answers
Q1
Partial Answer
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Context
The EU trade deficit showed at 26.7% last month, highlighting the need for pragmatic approaches to boost economic yield.
In light of the devastating state of the economy and the EU trade deficit showing at 26.7%, there must be pragmatism in working with the trade and co-operation agreement to remove export barriers such as tariffs and border friction, rather than instigating harsh cuts to public services and wage restraint leading to a recession. What discussions has the Minister had with the Chancellor to ensure better trade terms are negotiated between the UK and the EU?
We will not take lessons from the Labour party on trade deficits, given that it inherited a £4.6 billion trade surplus in 1997 but left office in 2010 with a £35.1 billion deficit. We have regular discussions with the European Union on how to increase trade and are determined to drive up trade not just with Europe but also with new partners around the world.
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Assessment & feedback
Discussions between the Minister and Chancellor regarding better trade terms were not specifically addressed.
We Will Not Take Lessons From The Labour Party On Trade Deficits.
Response accuracy
Q2
Direct Answer
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Context
Europe remains a significant export destination for British businesses, having exported £344.6 billion worth of goods and services.
What steps are being taken to increase trade with European countries?
Europe is a vital export destination for British businesses, which exported £344.6 billion-worth of goods and services in the 12 months to end June 2022. DIT Europe has around 300 trade experts, including a dedicated commissioner for the continent. We will facilitate some 500 activities and events by the end of this financial year alone.
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Assessment & feedback
Response accuracy