House of Lords launch investigation into post-Brexit trade consequences

An investigation into the UK’s goods trade post-Brexit will take place tomorrow, 27th of October, at the House of Lords.

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A view of Parliament across the river Thames

The investigation, run by the Lords’ EU External affairs subcommittee, will look at the significance of EU membership for the food and beverage, as well as oil and petroleum industries.

The group will speak with industry experts and commentators on how leaving the EU will impact the UK in relation to subjects such as tariff barriers, quotas, the common agricultural policy and free trade agreements.

The House is expected to hear evidence from Professor Tim Lang

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Professor Tim Lang is expected to give evidence tomorrow.

, an expert in food policy from the University of London, and Mr Peter Hardwick, head of exports at the Agriculture and Horticulture development board.The first evidence session will focus on the food and beverage industry and centres on tariff barriers and non-tariff barriers for trade with the EU. It will also at the key impacts of the UK leaving the customs union by discussing the importance Britain’s access to the free trade agreements with third countries.

The second evidence session will discuss the most important issues the UK oil and petroleum industry will face post-Brexit. The board will hear from oil industry experts including Michael Tholen, Director of Upstream Policy at Oil and Gas UK, and Chris Hunt, Director General at the UK Petroleum Industry Association. They are expected to discuss the impact Brexit will have on the availability of investment into the industry, and an investigation into what effect the depreciation of the pound is having on the oil and petroleum industry.

The security aspects of Brexit are being discussed in Parliament today.

Britain will have to reach a new trade agreement with the European Union following its decision to sever links with Brussels. The deal must be completed within the two-year time frame after Article 50 has been triggered.

 

 

 

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