The Trade Bill will ensure the UK is ready for when we leave the EU, providing continuity for individuals, businesses, and international trading partners.
Aims of the Trade Bill
The Trade Bill will:
- create the necessary powers for the UK to transition trade agreements that currently exist between the EU and other countries (and which we are party to through our EU membership)
- enable the UK to have continued access to £1.3 trillion worth of government contracts and procurement opportunities in 47 countries
- allow the UK to implement the Agreement on Government Procurement (GPA) as an independent member instead of as part of the EU
- establish a new independent UK body, the Trade Remedies Authority, to defend UK businesses against unfair trade practices
- ensure the UK government has the legal ability to gather and share trade information, as evidence to support UK businesses against surges in imports and unfair practices
Further tax-related elements of the UK’s trade policy will be legislated in the Treasury’s Taxation (Cross-Border Trade) Bill.