Commons Sense

House of Commons · Ministers' Questions

European Trade

Thursday 3 November 2022 · 2 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 1 Not answered 0

Key points

  • The UK inherited a 4.6 billion trade surplus from the Labour party in 1997 but left office in 2010 with a 35.1 billion deficit.
  • 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.

Topics (select to filter)

Questions & Answers

Q1 Rachael Maskell Labour (Co-op) York Central
Economy Business & Trade
Context

The EU trade deficit showed at 26.7% last month, highlighting the need for pragmatic approaches to boost economic yield.

Question

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?

Answer from Andrew Bowie

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.

Partly answered

Not addressed: Discussions between the Minister and Chancellor regarding better trade terms were not specifically addressed.

How: We Will Not Take Lessons From The Labour Party On Trade Deficits.

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Q2 Rachael Maskell Labour (Co-op) York Central
Business & Trade
Context

Europe remains a significant export destination for British businesses, having exported £344.6 billion worth of goods and services.

Question

What steps are being taken to increase trade with European countries?

Answer from Andrew Bowie

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.

Answered
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