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Brexit 4th Anniversary

31 January 2024

Proposing MP
Kemi Badenoch Con
North West Essex
Type
Written Ministerial Statement
Department
Department for Business and Trade
View on Parliament.uk -->

At a Glance

Issue Summary

The statement discusses the economic benefits of Brexit since January 2020, highlighting growth in exports and trade agreements.

Action Requested

The Government is publishing an update detailing the achievements post-Brexit, including simplified import tariffs, reduced trade barriers, and new free trade agreements. It also outlines plans to continue opening markets for businesses and promoting free trade.

Key Facts

  • Since Brexit, UK services exports are at a record-high of £472 billion.
  • The UK has over 50% of products tariff-free compared to the EU's 27%.
  • About 500 trade barriers have been removed since 2020, including in the US.
  • Freeports programme is generating millions for local economies and creating thousands of jobs.
  • Over 2,000 pieces of EU law have been revoked or reformed.
  • The UK has negotiated free trade agreements with 73 countries.
  • Trade deals with Australia and New Zealand are helping companies break into new markets.
  • The UK will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership soon.
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