Written questions, answers and statements

Fiscal Policy

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Question for Treasury

UIN 47250, tabled on 23 April 2025

Question

Stephen Gethins
Scottish National Party
Arbroath and Broughty Ferry
Commons

To ask the Chancellor of the Exchequer, with reference to paragraph 2.28 of the Office of Budget Responsibility's publication entitled Economic and fiscal outlook, published in October 2024, what estimate she has made of the cost to the public purse of the change in overall trade intensity.

Answer

Emma Reynolds
Labour
Wycombe
Commons

Answered on

28 April 2025

HM Treasury does not prepare forecasts for the UK economy and public finances, including assessments of potential impacts of policy changes. These are the responsibility of the independent Office for Budget Responsibility (OBR) which confirmed its assessment of EU exit’s economic impacts in its March 2024 Economic and Fiscal Outlook.

HM Treasury continues to consider a range of data sources, including trade import and export figures, as part of the department’s ongoing monitoring of the UK economy.

The Government is working with the EU to identify areas where we can strengthen cooperation for mutual benefit, and as part of this we will welcome EU leaders to the UK for the first UK-EU Leaders’ Summit on 19 May.

Answered by

Treasury
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.