Global Britain — House of Commons, 2021-01-11
Topic: Foreign Trade
Elizabeth Mary Truss (Conservative, Centre-right): I beg to move, That this House has considered Global Britain I am delighted to open this debate on global Britain when, for the first time in 48 years, we now have full control of our trade policy. Back in 1846, Richard Cobden inspired people in Manchester with his belief that free trade would be "the greatest revolution that ever happened in the world’s history…drawing men together, thrusting aside…antagonism…and uniting us in the bonds of eternal peace." That revolution continues today, as for the first time in nearly half a century we are a sovereign trading nation free to pursue British interests while promoting British values. Our newly independent trade policy will create jobs, grow our slice of the global pie, and unlock great swathes of the world to the best of Britain As we recover from covid-19, we need to think radically about how we generate economic growth and how we are going to use our new global platform in 2021 to promote free and fair trade—how we are going to take on those countries that try to cheat and to undermine free enterprise. In 2020, we negotiated trade agreements covering 63 nations and the European Union, and in 2021 we will use this year, including our presidency of the G7, to champion free and fair trade in an era rife with pernicious practices. We will promote modern rules that are relevant to people’s lives for digital and data trade. We will champion high environmental and animal welfare standards in a science-led approach, and we will push for modernisation of the World Trade Organisation and trade agreements to reflect our values of free enterprise and fair play. We will also build an advanced network of trade deals, from the Americas to the Indo-Pacific, with the UK at its heart as a global services and technology hub. We have already reached deals covering 63% of UK trade, well on our way to our manifesto target of 80% in three years. We want to hit that target and to deepen our existing relationships in areas such as services and technology Exports are equivalent to nearly a third of our national income. Trade equals jobs. A job means independence and security, the realisation of our dreams, funding public services and the future prospects of our country. The deals we have done with the EU and our partners across the world, from South Africa to South Korea, mean that our traders continue to enjoy preferential access to world markets We have secured arrangements with Turkey that mean that Ford in Dagenham can continue to export its engines tariff-free. We have secured access to the Canadian market for our beef producers, such as the Foyle Food Group in Northern Ireland. We have secured tariff-free access into Mexico for our car exporters such as Jaguar Land Rover, while Scotch whisky—one of our biggest exports—continues to enter markets such as Singapore tariff-free and stays recognised All in all, this adds up to £885 billion of trade that we have secured. In addition, we have been able to go further and faster in our deal with Japan, protecting the free flow of data, which benefits industries such as FinTech and computer gaming, regulatory dialogue on financial services and improved mobility provisions, including allowing spouses to travel with businesspeople. We have secured additional protections for our fantastic creative industries, from music to TV, and recognition for geographical indications across the UK, from Welsh lamb to Scotch beef, from Armagh Bramley apples to English sparkling wine, subject to Japanese domestic processes This platform allows us to step up this year to show our full potential as president of the G7 and as an independent trading nation. At the G7, we will work to reform the World Trade Organisation, make progress on data and digital trade and promote greener trade. Our new UK global tariff will see around 57% of our imports entering our market tariff-free—more than the 44% that we had under the EU.