Nick Herbert – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Nick Herbert on 2016-05-25.

To ask Mr Chancellor of the Exchequer, with reference to his Department’s analysis: the long-term economic impact of EU membership and the alternatives, what estimate he has made of the long-term reduction of trade from leaving the EU in each UK region.

Mr David Gauke

In April 2016 HM Treasury published analysis that showed that reduced access to the Single Market under each of the alternatives set out would have a negative impact on trade.

The analysis does not make any estimate of the impact on the long-term trade position in each UK region. HM Revenue and Customs Regional Trade Statistics on the value of trade in goods in each region are publically available through the UK Trade Info website. The value and percentage share of goods exports to the EU from each region are shown in the table below.