European Union (Finance) Bill

The hon. Lady is being very generous. A lot of the debate on this in the past has been a bit overdone, as though there would be no trade between the EU and the UK if we were to leave. What assessment has the hon. Lady made of what the impact would be? I am sure that there would be costs, but perhaps we need to avoid exaggerating or suggesting that somehow all trade would cease or that there would be massive walls put up when there will not. What is her assessment of the likely impact on trade if we did depart?