I thank the noble Lord. I think I heard two questions there. First, he asked whether it is true that if, as is the Government’s priority, we leave with a deal—that is, with a withdrawal agreement and an implementation period—the EU has to propose that the UK is treated as a partner for the purposes of these trade agreements. That is correct. I do not believe that that is a secret. My...
My Lords, I can only repeat the Statement from my right honourable friend the Secretary of State for International Trade. The update will be given shortly—as he said, in the coming week.
My Lords, in terms of tariff-setting, there are the powers under the Taxation (Cross-border Trade) Bill. With regard to the Faroe Islands, I think that the figure of 0% has been rounded. We are talking about the total amount of trade to the UK but I agree with my noble friend that the trade agreement with the Faroe Islands, as well as many other smaller trade agreements, is vital.
Entered the House of Lords on 19 October 2017
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