Lords examine post-Brexit trade in goods with new inquiry
On Thursday 20 October, pharmaceuticals and chemical industries, as well as manufacturers, will give evidence to the Lords EU Committee starting a new investigation into the UK's trade in goods, post-Brexit.
The House of Lords EU External Affairs Sub-Committee will ask how tariffs and non-tariff barriers imposed on trade between the UK and EU could impact the pharmaceuticals and chemicals industries and manufacturers of capital goods. It will also question whether the significant numbers of large employers in the UK might consider relocating out of the UK.
At 10.20am the Committee will hear evidence from Dr Virginia Acha, Executive Director of Research, Medical and Innovation, Association of the British Pharmaceutical Industry and Mr Steve Elliott, Chief Executive Officer, Chemical Industries Association.
Then at 11.30am the Committee will hear from Mr Fergus McReynolds, Director of EU Affairs, Engineering Employers' Federation UK (EEF), and Mr James Selka, Chief Executive Officer, Manufacturing Technologies Association.
Questions which the witnesses are likely to face include:
- How significant an issue would be the imposition of tariffs?
- What about taxation – how would leaving the common system of VAT have an impact?
- Many international companies have significant presence in the UK – could Brexit result in a rush to leave?
- What would be the implications of changing trademarks?
- Which EU standards would be beneficial to retain or lose?
The House of Lords EU Committee and its six Sub-Committees are conducting a coordinated series of short inquiries looking at the key issues that will arise in the forthcoming negotiations on Brexit. Taken as a whole, this programme of work will be the most extensive and thorough parliamentary scrutiny of Brexit.
These evidence sessions will take place at 10.20am and 11.30am on Thursday 20 October in Committee Room 3 of the House of Lords.