My Lords, I am pleased to follow the noble and learned Lord, Lord Hope of Craighead, albeit after several days’ rest from this marathon Committee stage. He has taught me a great deal in this House.
I am a supporter of the World Trade Organization and its predecessor, GATT. Trained as an economist, I know that trade brings great benefits in terms of world prosperity, as is convincingly explained by the theory of comparative advantage. This is particularly important when we face recession and the shock of the Covid pandemic affecting every corner of the globe. As noble Lords know, I am an advocate of well-informed consultation. However, we must have regard to WTO rules, and I doubt that these suggestions are compatible with them. The UK benefits greatly from the international order and enduring economic ties, especially in free trade. In closing, the Minister may want to comment on whether the amendments in this group could fall foul of WTO rules.