Oral Answers to Questions

Ellie Chowns Excerpts

Thursday 1st May 2025 Commons Chamber

[Gareth Thomas]

I had thought that one of the first contributions from the Opposition Front Benchers today would be to celebrate the £1 billion investment by IKEA in the UK. It is opening its flagship store on Oxford Street today, and committing to a range of investments in other towns and cities across the UK. When the hon. Lady was on the Treasury Committee, I do not know whether she looked at the cuts the previous Government made to help for small businesses in getting their goods into new markets. We are taking active steps to increase the opportunities for small businesses in overseas markets.

[Ellie Chowns (North Herefordshire) (Green)]

2. What steps his Department is taking to negotiate trade agreements with the UK’s main trading partners.

[The Secretary of State for Business and Trade (Jonathan Reynolds)]

I announced in July that we were resuming free trade agreement negotiations with the Gulf Co-operation Council, India, Israel, the Republic of Korea, Switzerland and Türkiye. We have also begun talks with the United States on an economic prosperity deal, and we support the Cabinet Office with trade aspects of the EU reset.

[Ellie Chowns]

Given the utter unreliability and, frankly, economic illiteracy of President Trump, and given that the EU is by far our largest trading partner, it is clear that the best interests of the UK are served by our having a deal that allows the closest possible co-ordination with the EU. Does the Minister agree with me that that should cover youth mobility, and improved energy and climate co-operation? Specifically, will he work with his colleagues to ensure that we ease burdens for British business by linking the UK and EU emissions trading schemes, and by aligning on chemicals regulation, to boost British productivity and prosperity?

[Jonathan Reynolds]

I think that was a few questions, but we seem to have time for them today, so I welcome all of them. First of all, I recognise exactly what the hon. Lady says. When it comes to the importance of the EU as a principal trading partner for this country, the figures speak for themselves. I disagree with her about us having to choose between the US and the EU, or any other markets. I believe that the UK can be well positioned for all markets. There will be strong political views in this place about political leaders in a range of countries, but I would just say to her that when it comes to the United States, there are potentially thousands of jobs at stake. That is why we are pursuing a trade and economic prosperity deal with the US, and I think we cannot get away from that.

On the questions relating to the EU, a successful negotiation takes two parties. I want to see greater co-operation. I would not talk about the specifics of any part of the negotiations, but I would not want the kind of barrier that she identified to be in place. I want the UK to have the best and most frictionless trade possible with the EU, in a way that is consistent with our aspirations and obligations with the rest of the world, but she has made her point very well, and I recognise it.