I appreciate that concerns have been raised regarding the impact that Brexit is having on businesses.

Outside of the EU, the UK has more control over a number of areas, including our borders, laws, and money. The Government is clear that they are focused on delivering on the opportunities that Brexit presents for businesses across the UK.

The Trade and Cooperation Agreement was a historic achievement that delivered on the promises of the EU referendum and the 2019 Conservative party manifesto. As part of the Agreement, there are no tariffs or quotas for trade in goods between the UK and the EU. This was the first time that the EU agreed such a deal and it provides the UK with the same benefits in tariffs and quotas that EU member states enjoy.

I appreciate that some businesses have concerns about the delays caused by new customs processing requirements. The Government has always recognised that leaving the single market and customs union would mean changes at the border between Great Britain and the EU. That is why £705 million has been invested in border infrastructure, jobs, and technology to support the operation of new processes.

This included up to £470 million to build port and inland infrastructure and £235 million for additional staff and IT systems. A £20 million SME Brexit Support Fund has also helped smaller businesses adjust to new VAT, customs, and rules of origin requirements. Indeed, this has enabled over 4,100 businesses to pay for practical support to adjust to new customs and VAT rules when trading with the EU. All businesses can get answers to practical questions about exporting to Europe by accessing the Government’s Export Support Service via GOV.UK.

Further, the UK once again has the ability to make its own trade deals and the Government has an ambitious trade policy in place which will seize on the opportunities available to us as a sovereign trading nation. Recent achievements of this trade policy include securing far-reaching trade agreements with Australia, New Zealand and Singapore. Negotiations have substantially concluded to accede the UK to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The next step in the accession process will be a legal review of the agreement text. This will be followed by formal signature of the agreement. This is a free trade area with a joint GDP of £8.4 trillion in 2020, as well as for trade agreements with India and Canada.

Supporting exporters is at the heart of the Government’s trade policy. In November, the Department for International Trade published its new strategy – 'Made in the UK, Sold to the World’ – to help businesses across the UK double exports and sell their world-class products around the globe. UK exports are due to hit the £1 trillion per year mark by the mid-2030s but this strategy aims to get us there before then. 

In the future, I believe that the UK will be able to adapt more easily to the changes and technological innovations of the coming decades. We will be able to set regulations for new sectors to encourage investment and new ideas more quickly than the EU.