Department for International Trade written question – answered on 24th November 2022.
To ask the Secretary of State for International Trade, with reference to her Department’s policy paper entitled UK-India free trade agreement: the UK's strategic approach, published in January 2022, if she will publish the modelling her Department used as the basis for Table 2: Summary of estimates of UK macroconomic impacts, long run changes against the baseline; and if she will make a statement.
A UK-India Free Trade Agreement will offer significant economic opportunities to British business and will benefit domestic consumers.
The macroeconomic impacts of a deal are estimated using a Computable General Equilibrium (CGE) model. Details of the approach used to assess the macroeconomic impacts and the modelling assumptions are described on page 53 and 54 of the document. These provide the basis for the results seen in Table 2.
Further details on the model specification can be found in ‘Technical annexes accompanying the Scoping Assessment of a Free Trade Agreement (FTA) between the United Kingdom of Great Britain and Northern Ireland and India’ (https://www.gov.uk/government/publications/uk-approach-to-negotiating-a-free-trade-agreement-with-india).
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