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Economic Situation

Treasury written question – answered on 31st October 2019.

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Photo of Caroline Lucas Caroline Lucas Green, Brighton, Pavilion

To ask the Chancellor of the Exchequer, with reference to his letter of 21 October 2019 to the Interim Chair of the Treasury Select Committee, what recent assessment he has made of the potential economic merits of the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

On Monday 21st October, the government published an Impact Assessment in support of the WAB. It is a standard assessment of the direct costs and benefits to businesses of the elements of the Bill. This can be found on gov.uk here.

The specifics of our future trading relationship with the EU will be the subject of the next phase of the negotiations.

We will keep Parliament updated throughout the next phase of the negotiations and provide analysis at appropriate points.

The OBR will, of course, continue to take Government policy – including the UK’s future relationship with the EU – as the basis for its economic and fiscal forecasts, and will provide its usual comprehensive analysis as part of these.

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