Context
The question addresses concerns about the impact of leaving the EU single market on UK business and trade.
Question
What recent assessment her Department has made of the potential effect of the UK's withdrawal from the European single market on business and trade.
Answer from Nusrat Ghani
Having regained our regulatory sovereignty now that we have left the European Union, we are now able to ensure that our regulation is tailored to the UK economy, supports our businesses and protects our consumers. Having left the single market, we can focus on UK trade with the world, where total trade is up 24%, so the answer to his question is that the effect is that total trade is up.
Not addressed: The specific effects on businesses and detailed analysis of trade impacts were not addressed.
How: Trade Is Up
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