Commons Sense

House of Commons · Ministers' Questions

Withdrawal from the EU: Economic Impact

Tuesday 21 March 2023 · 3 questions

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

Read the full transcript on Parliament.uk

At a glance

Key points

  • The Office for Budget Responsibility reports that Brexit will shrink the UK economy by 4% and reduce trade by 15%.
  • The Government have secured 71 new trade deals with non-EU countries since Brexit.
  • The Minister encourages support for the UK's trade and co-operation agreement with the EU, the world's largest zero-tariff, zero-quota deal.

Topics (select to filter)

Questions & Answers

Q1 Tommy Sheppard SNP
Economy Brexit
Context

The Office for Budget Responsibility's report indicates that Brexit will shrink the UK economy by 4% and reduce trade by 15%. This question follows an initial assessment of the impact of withdrawal from the EU.

Question

What recent assessment has his Department made of the impact of withdrawal from the EU on the economy? The Office for Budget Responsibility's report states that Brexit will shrink the UK economy by 4% and trade will go down by 15%. Is it time to admit that Brexit has caused irreparable harm?

Answer from Victoria Atkins

The Government are focused on seizing opportunities provided by Brexit, including new freeports and trade deals. They have secured 71 new trade deals with non-EU countries and invested £8.6 million in Scotland's festival economy.

Not addressed: Acknowledging the OBR's findings on economic impact of Brexit

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Q2 Tommy Sheppard SNP
Brexit
Context

The Office for Budget Responsibility's report indicates that Brexit will shrink the UK economy by 4% and reduce trade by 15%. This question follows an initial assessment of the impact of withdrawal from the EU.

Question

Last week, the OBR published its report stating that Brexit means a 4% shrinkage in the UK economy and a 15% decline in trade. Is it time to acknowledge the irreparable harm caused by Brexit?

Answer from Victoria Atkins

The Government are focused on seizing opportunities provided by Brexit, including new freeports and trade deals. They have secured 71 new trade deals with non-EU countries and invested £8.6 million in Scotland's festival economy.

Not addressed: Acknowledging the OBR's findings on economic impact of Brexit

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Q3 Tulip Siddiq Lab Hampstead and Highgate
Brexit Business & Trade
Context

The Windsor agreement has been reached, providing an opportunity for a constructive working relationship with the European Union. The questioner seeks support for Labour's proposals on veterinary agreements and regulatory cooperation.

Question

Now that the Windsor agreement has been reached, there is ample opportunity to have a constructive working relationship with the EU. May I ask whether the Minister will get behind Labour's proposals for a bespoke veterinary agreement and a memorandum of understanding on regulatory co-operation?

Answer from Victoria Atkins

I urge the hon. Lady to get behind our trade and co-operation agreement, which is the world's largest zero-tariff, zero-quota deal.

Not addressed: Supporting Labour's proposals for a veterinary agreement and memorandum of understanding on regulatory cooperation

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)