I am grateful to my right hon. Friend. We need to help those people to build their way out of poverty through trade.
I would like to give the Government an example of a form of words that could be used to reassure industry. If I make mistakes on this, they are my own, but this is derived from some advice from a trade negotiation lawyer. We could say: “The terms of our withdrawal agreement will ensure no UK-owned or UK-based manufacturer will be disadvantaged by our exit. Both EU and UK manufacturers seek tariff and barrier-free access to each other’s markets, and we will seek to deliver it with a broad, deep and permanent free trade agreement. We intend that manufacturers in the UK will either pay no tariffs or that they will have the opportunity to take advantage of a fully WTO-compliant tariff drawback system. UK manufacturing, after we leave the EU, will be more successful, more competitive, and lower-cost.” If the Government made that statement, everyone would begin to understand that our future will be far brighter once we have left the European Union, taken back control and made our own way.
I leave the House with this thought: the Legatum Institute Special Trade Commission proposes that, if we implement the very best in contemporary trade practice, we can add an extra 50% to gross world product in the next 15 years. That means unemployment at 2% in the UK, no deficit and billions of people lifted out of poverty.
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