Food: Prices

Department for Business, Innovation and Skills written question – answered on 28th October 2015.

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Photo of Andrew Rosindell Andrew Rosindell Conservative, Romford

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the potential effect of the proposed Transatlantic Trade and Investment Partnership on food prices in the UK.

Photo of Anna Soubry Anna Soubry The Minister of State, Department for Business, Innovation and Skills

An independent assessment of the potential economic impact of the Transatlantic Trade and Investment Partnership (TTIP) on the UK was carried out for the Government by the Centre for Economic Policy Research (CEPR). This assessment demonstrated that TTIP offers an enormous economic benefit: in growth, exports, high quality jobs and reduced prices, worth up to £10 billion a year to the UK economy.

The CEPR study did not look at food prices specifically but it projects that output in our agricultural sector will be largely unaffected by TTIP.

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