Assessment of the potential economic impact of the Transatlantic Trade and Investment Partnership between the EU and USA on the UK.
Estimating the economic impact on the UK of a Transatlantic Trade and Investment Partnership (TTIP) agreement between the European Union and the United States
Ref: BIS/13/869 PDF, 1.68MB, 69 pages
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Assesses the likely impact of a free trade and investment agreement between the EU and the USA (the Transatlantic Trade and Investment Partnership or TTIP) on the UK economy.
It uses a computable general equilibrium model to assess the potential impact of tariff reductions and liberalisation of non tariff barriers.
It suggests that there could be signficant gains. In the long run, UK national income could rise by between £4 billion and £10 billion annually, with the main gains being generated by the liberalisation of non-tariff barriers.
The report includes an assessment of the impact on trade as well as national income and includes estimates for the impact on sectors as well as on the UK economy as a whole.