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Question for Treasury

UIN HL567, tabled on 30 October 2019

To ask Her Majesty's Government what assessment they have made, if any, of the long-term economic benefit of leaving the EU with the new Brexit deal.

Answered on

5 November 2019

The Withdrawal Agreement agreed with the EU ensures that we leave the EU in a smooth and orderly way, and will provide certainty for businesses and the economy. Leaving the Customs Union and Single Market allows the UK to pursue an ambitious FTA with the EU as sovereign equals, as well as striking trade deals with other international partners.

The specifics of our future trading relationship with the EU will be the subject of the next phase of the negotiations. We will keep Parliament updated throughout the next phase of the negotiations and provide analysis at appropriate points.

The OBR will, of course, continue to take Government policy – including the UK’s future relationship with the EU – as the basis for its economic and fiscal forecasts, and will provide its usual comprehensive analysis as part of these.

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