Future International Trade Opportunities

Part of the debate – in Westminster Hall at 4:30 pm on 1st May 2019.

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Photo of Gareth Thomas Gareth Thomas Party Chair, Co-operative Party 4:30 pm, 1st May 2019

Research published in December by the Centre for European Reform suggests that if Britain leaves the single market, even with an ambitious future trade agreement with the European Union, exports of insurance and pension services from the UK would be almost 20% lower per year. Does the hon. Gentleman think that, however difficult it would be to present it to his constituents, staying in the single market might be the best way to protect a considerable number of insurance jobs in his constituency and elsewhere?