EU Withdrawal

The explanation would take longer than the time I have available. I shall share it with the noble Lord afterwards but the basic point is that services are the expanding side of international trade. Standards have to be negotiated with America, the European Union and so on, and within the EU of course, but also with all the great new markets of Asia, Africa and Latin America, where the big expansion of services will be. There never was a clear single market in services. We hoped for it but it never worked. We face the same problem there as we are facing throughout the world. It is perfectly straightforward that in this area old-fashioned customs arrangements affect only solid physical goods; they are a declining part of the system. Therefore, concern with old-fashioned arrangements is becoming less relevant.