To ask the Secretary of State for International Trade, what estimate she has made of the additional annual cost to UK food and drink manufacturing businesses of the application of the published UK global tariff.
17 September 2020
The UK Global Tariff (UKGT) is tailored to the UK economy and balances the interests of UK consumers and producers. It is a lower tariff regime than the EU’s Common External Tariff. In designing the UKGT, we assessed all available evidence submitted during the public consultation in depth and considered a range of factors, such as the five principles set out in the Taxation (Cross-border Trade) Act 2018.
The UKGT eliminates tariffs on imports where the UK has limited domestic production, which may lower cost pressures for UK households and businesses.
We will publish more analysis in the Taxation Information and Impact Note (TIIN) alongside the legislation, as is standard practice.