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Food: Prices

Question for Department for Business, Innovation and Skills

UIN 12500, tabled on 19 October 2015

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the potential effect of the proposed Transatlantic Trade and Investment Partnership on food prices in the UK.

Answered on

28 October 2015

An independent assessment of the potential economic impact of the Transatlantic Trade and Investment Partnership (TTIP) on the UK was carried out for the Government by the Centre for Economic Policy Research (CEPR). This assessment demonstrated that TTIP offers an enormous economic benefit: in growth, exports, high quality jobs and reduced prices, worth up to £10 billion a year to the UK economy.

The CEPR study did not look at food prices specifically but it projects that output in our agricultural sector will be largely unaffected by TTIP.

Answered by

Department for Business, Innovation and Skills