The UK left the European Union - a highly integrated political and economic union - on 31 January 2020. I understand that there are still strong feelings about the referendum and some will continue to argue about whether leaving was the right decision. However, I think most people in the UK share my view that the decision to leave is one that cannot be reversed, and we must now capitalise on the opportunities of Brexit.
I would also point out that, with or without Brexit, Britain faces the same challenges as all modern developed countries. The last few years have seen a global pandemic, with considerable after-effects, as well as global instability with war in Ukraine and the Middle East. This comes at a time when we are living through a technology revolution and face the challenges of ensuring that we tackle climate action, while continuing to grow our economy and investing in public services for the long term.
Brexit has brought many benefits, though, such as having more control over our laws, our borders and our money, as well as being able to deregulate. The last Government passed the Retained EU Law (Revocation and Reform) Act 2023 to ensure that we can regulate our growth industries more competitively, supporting British businesses to innovate and grow the economy.
Where some predicted decline for Britain’s economy after Brexit, the UK has shown expansion.
Since the referendum in 2016, the UK has grown faster than Germany, Italy and Japan. The UK’s service exports are at a record-high of £472 billion and the IMF predicts that between 2024-28, the UK will see the third fastest growth in the G7 - stronger than France, Germany, Italy and Japan.
New partnerships have been launched with Canada, Australia, Japan, the US, and the Indo-Pacific, covering trade and economic security. The UK has built dozens of trading relationships with new friends and old allies. Recent achievements include securing far-reaching Free Trade Agreements with Australia and New Zealand; signing digital agreements with Singapore and Ukraine; concluding negotiations for the UK to accede to the Comprehensive and Progressive Trans-Pacific Partnership; and signing Memorandums of Understanding with eight US states - Indiana, North Carolina, South Carolina, Oklahoma, Utah, Washington, Florida, and Texas.
Through these agreements, import tariffs have been simplified on almost six thousand goods. I understand that the UK now has little under 50 per cent of products that are tariff-free, compared to the EU’s 27 per cent.
The British public made a clear decision in 2016 to restore the UK’s status as a sovereign, independent country, able to determine its own future. It is essential that the Labour Government does not take any steps which could undermine this decision so I welcome that Ministers have been clear that the UK will remain outside of the European Union (EU) and that there will be no return to the single market, customs union or freedom of movement.
Ministers have, however, expressed intentions to renegotiate the Trade and Cooperation Agreement to secure ‘better terms’, without clearly outlining what those terms might be. They have also expressed intentions to negotiate a veterinary agreement, “help touring artists” and secure a mutual recognition agreement for professional qualifications. I will be closely scrutinising any decisions taken with regard to the Trade and Cooperation Agreement, along with any other decisions regarding the UK’s relationship with the EU; I will not hesitate to speak out in Parliament should steps be taken to undermine the clear choice the British people made in 2016.
