Trade Bill — House of Commons, 2018-01-09
Topic: Foreign Trade
Victoria Grace Ford (Conservative, Centre-right): It is enormously important that as we move through the period of the Brexit negotiations and into the future, we give businesses and consumers stability and continuity in trade agreements—not only in our trade relationship with the EU, but in our relationships with the 60-odd other countries with which we currently trade via our relationship with the EU. We are living in a time of unprecedented change in the world, with the fourth industrial revolution and the digital revolution, and trading flows are ever-changing. It is crucial that at this time we hold on to the principles and remember the benefits of free trade. Free trade is not just about helping big business; it brings benefits for all. Opening markets brings opportunities for exporters and importers, large and small. Those businesses can then help to deliver growth, real jobs and opportunities. For consumers, trade brings more choice and lower prices It is incredibly important that we look at what this Bill does and does not do, because the entirety of our new FTAs will not be set just in this one move. This is an enabling Bill that maintains the right of British companies to bid on government procurement contracts in other parts of the world. We are talking about £1.3 trillion—there are so many zeroes on the end of that number—and we must protect that business. The Bill also protects our national interests such as the NHS and our broadcasters. It transitions our existing trade deals with those 60-odd countries into British law from the current EU relationship. I do not know how many Members have read CETA, but it is 1,568 pages long and I have read a lot of it. There will need to be changes when it comes into British law, which is why the Minister needs powers to make technical changes. The Bill allows us to collect and share vital information on our existing and potential future trade flows—this is information currently shared under EU premises. It will allow us to share and understand that information domestically Free trade is not a free-for-all; we have global rules that protect us. It is important that when those rules are broken, we can take remedies, which is why the Bill also establishes the new Trade Remedies Authority. It is incredibly important that it is up and running, and staffed with strength, well in advance of our new era. That is why we must make sure in Committee that its powers are made very clear, as I mentioned last night The Bill does not set a long-term trade policy. It is important that it does not do so today, because that needs to be properly consulted on with not just Members of this House, but the many stakeholders who are involved. There has been a lot of scaremongering about what free trade could involve. Free trade does not mean lowering our standards. It does not mean throwing out our environmental standards, our consumer protections, our environment law or our long history on human rights. All that can be preserved and should continue to be preserved in the new era, but it is right that the Government take time to consult stakeholders across the country on the priority of our new law The Bill also does not say, as Opposition Members were suggesting last night, that we should stay in the customs union. There seems to be some confusion about the benefits of a union with the customs union, and I would like to remind the shadow Minister about the deficiencies of the Turkish solution, for example: Turkey opens up its market to any trade that the EU signs itself up to, but Turkey cannot get access to the Canadian market in return, for example. The UK needs a better, more bespoke and more workable and practical relationship with the EU, as well as the rest of the world. I hope that we can start to work together this year to deliver that.