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The Financial Secretary to the Treasury (Lord Livermore) (Lab)

Speaking in the House of Lords on 20 November 2024

Debate

Exports to the European Union

Contribution

My Lords, in his Mansion House speech, the Governor of the Bank of England observed that Brexit has weighed on the UK economy, particularly in goods trade. The previous Government’s Brexit deal imposed new trade barriers on business and, according to the Office for Budget Responsibility, permanently reduced GDP by 4%. That is why the Government are committed to resetting our relationship with the European Union, to strengthen ties and to tackle barriers to trade.

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