Question to the Department for International Trade:
To ask the Secretary of State for International Trade, pursuant to her Department’s 19 July document, Statement of direction: designing a new UK trade preferences scheme to take effect in 2022, what assessment she has made of the (a) impact of her proposed tariff reductions in the General and Enhanced Frameworks and (b) effect of that matter on the value of preferences on (i) exports to the UK, (ii) wages, and (iii) GDP of the 47 countries under the Least Developed Countries Framework.
HM Government wants to take a more ambitious, generous, and pro-growth approach to trading with developing nations. Our proposed new scheme will mean more opportunity and less bureaucracy for our friends around the world.
There is an ongoing public consultation on the content of the scheme, which HM Government will take account of. We will consider where existing tariff rates may be particularly important for least developed countries also.