To ask Her Majesty's Government what assessment they have made of the impact of the UK–EU Trade and Cooperation Agreement on the UK's economic performance.
Answered on
9 July 2021
The UK-EU Trade and Cooperation Agreement (TCA) is the first free trade agreement based on zero tariffs and zero quotas and the largest bilateral trade deal in the world, by volume of goods trade. Alongside the TCA’s other provisions, this helps businesses to continue to trade smoothly.
The Treasury does not prepare forecasts for the UK economy and public finances, as this is the duty of the independent Office for Budget Responsibility (OBR). The latest forecasts from the OBR were published alongside the Budget on 3 March 2021,[1] and include an assessment of the impact of EU exit.
[1] https://obr.uk/efo/economic-and-fiscal-outlook-march-2021/