To ask Her Majesty's Government what assessment they have made of the impact of EU businesses that divert supply chains away from the UK.
9 September 2019
This answer is a correction from the original answer.
The Government has not undertaken work to assess the impact should EU businesses decide to move supply chains away from the EU.
The Government is seeking a comprehensive, ambitious future partnership with the European Union including a best in class Free Trade Agreement. The UK and the EU have a long standing and close trading relationship, with our businesses operating across borders to service clients and customers in the UK and the EU. The new FTA will seek to create new benchmark for trade liberalization and economic co-operation. It will aim to establish both zero tariffs and effective customs arrangements for goods, negate any need for EU businesses to change suppliers, and enable UK companies to continue to participate in pan-European supply chains.
It has not proved possible to respond to this question in the time available before Prorogation. I will correspond directly with the noble Lord.