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European Union: Trading Arrangements - Question

Part of the debate – in the House of Lords at 11:22 am on 30th January 2020.

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Photo of Lord Pearson of Rannoch Lord Pearson of Rannoch UKIP 11:22 am, 30th January 2020

My Lords, I am grateful to the Minister for that reply, but I would have thought that the Government may need something like this if the going gets rough in the forthcoming trade negotiations. For the record, will the Government confirm their recent Written Answer saying that, if we end up trading on normal WTO terms, EU exporters will pay us some us some £14 billion per annum in new tariffs whereas ours will pay Brussels only some £6 billion —an annual profit to us of some £8 billion per annum? Would this offer not therefore be generous to the EU and, if accepted, get rid of the Irish border problem, the need for much of Operation Yellowhammer and masses of lengthy trade negotiations? Would that not be cheap at the price?