Commons Sense

House of Commons · Ministers' Questions

Free Trade Agreements: Professional Business Services

Thursday 15 April 2021 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 3 Partly answered 0 Not answered 0

Key points

  • The UK is a world leader in professional business services and the second biggest exporter of PBS globally, with a trade surplus of 33 billion in 2018.
  • DIT has active participation in helplines for businesses facing issues in exporting to the EU and provides an internationalisation fund for those looking to export.
  • Professional business services are vital for constituencies across the country, with around 79% of gross value added and 80% of employment in services.

Topics (select to filter)

Questions & Answers

Q1 Felicity Buchan
Business & Trade
Context

The MP is concerned about promoting professional business services (PBS) in free trade agreements to maintain the UK's position as a leader and second-biggest exporter of PBS.

Question

What steps she is taking to promote professional business services in free trade agreements. The UK is a world leader in professional business services and the second biggest exporter of PBS globally, with a trade surplus of £33 billion in 2018.

Answer from Greg Hands

The UK is a world leader in professional business services and the second biggest exporter of PBS globally, with a trade surplus of £33 billion in 2018. To support this important and diverse sector, we are seeking ambitious FTA commitments in cross-cutting areas like mobility and digital, as well as tackling specific behind-the-border regulatory barriers such as recognition and professional qualifications.

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Q2 James Sunderland
Brexit Business & Trade
Context

The MP is concerned about the ongoing red tape affecting businesses, especially those in Bracknell, after Brexit. He asks what actions are being taken to resolve these issues.

Question

Will he please outline what his Department is doing to support the Cabinet Office in resolving this? This is affecting businesses in Bracknell and beyond.

Answer from Greg Hands

DIT has very active participation in the current helplines for businesses facing issues in exporting to the EU. We participate, of course, in the Brexit business taskforce, we provide a DIT internationalisation fund for those looking to export, and we have 300 international trade advisers across the country and at posts right across the European Union.

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Q3 Felicity Buchan
Business & Trade
Context

The MP is concerned about the professional services sector, which accounts for a huge amount of gross value added to the economy. She asks for assurance that this sector will be prioritised in future trade deals.

Question

Can my right hon. Friend assure me that the professional services sector will be at the forefront of our minds in negotiating future trade deals? Many of my Kensington constituents work in professional services, whether financial services, law, consulting or accountancy.

Answer from Greg Hands

My hon. Friend and neighbour puts it extremely well. Professional business services are vital for her constituency, for mine and for the whole country. Around 79% of gross value added and 80% of employment in this country is in services. As she knows, we secured special provisions for legal services in the EU agreement.

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