I will make some progress.
In parallel with the trade benefits to which I referred, investment in the UK from Canada continues to grow. In 2016, Canada had £18.6 billion invested in the UK and we had £21.1 billion invested in Canada.
As I have said, ratifying CETA is also an important step towards our future trading relationship with Canada as we prepare to take advantage of the opportunities offered by our exit from the European Union. During the Prime Minister’s visit to Canada in September last year, both she and Prime Minister Trudeau reiterated their intention to seek to “transition” CETA swiftly and seamlessly into a UK-Canada deal once the UK has left the EU, and formally announced the establishment of a working group to ensure that the transition was as seamless as possible. Officials from our two countries have already begun to meet to discuss that transition. It is important that, as a first step, we prevent a “cliff edge” for British and Canadian businesses.
Of course, while we remain in the EU we continue to support its ambitious trade agenda. Free trade is not a zero-sum game, but rather a win-win. Ratifying CETA will send a strong message about our determination to champion free trade, to seek global trade liberalisation wherever we can, and to support the rules-based international trading system to deliver mutually beneficial outcomes. That is a key part of the Government’s vision of delivering a prosperous and truly global Britain as we leave the European Union—