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No-deal Update - Statement

Part of the debate – in the House of Lords at 7:15 pm on 3rd September 2019.

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Photo of Lord Pearson of Rannoch Lord Pearson of Rannoch UKIP 7:15 pm, 3rd September 2019

My Lords, does the Minister recall his recent Written Answer to me saying that if we end up trading on normal WTO terms, EU exporters will pay us some £14 billion per annum in new tariffs while our exporters will pay Brussels some £6 billion in new tariffs, making us an annual profit of £8 billion? Given the mess we are in, why do the Government not offer the EU a completely new deal in the shape of a very short treaty under the WTO? It could continue our free trade together exactly as now, thus getting rid of the Irish border problem and all the paraphernalia of Operation Yellowhammer. Would that not be a generous offer that even Brussels might find hard to refuse?