Question

To ask Her Majesty’s Government, further to the Written Answer by Lord Livingston of Parkhead on 19 November (HL2689), what evidence they have of the United Kingdom enjoying benefits which are derived from enhanced competition and innovation as members of the Single Market which it would not have enjoyed had it not been in that Market.

The Single Market encourages competition by removing barriers to trade between EU members. An increase in competition can be expected to reduce prices and increase choice for consumers, encourage firms to innovate, reallocate resources to more productive means, and boost macroeconomic performance. The European Commission have estimated that the competition and innovation impacts of the Internal Market Programme have boosted EU GDP by over 2%^[1].

[1] European Commission Steps Towards a Deeper Integration: The Internal Market in the 21^st Century, 2007