UK Trade with EU

Summary

To ask the Chancellor of the Exchequer, whether her Department has made a recent assessment of the potential impact of re-joining the EU Customs Union on the UK economy, in the context of the UK-EU summit on 19 May 2025.

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Timeline

1. 28 April 2025

   Written question

   To ask the Chancellor of the Exchequer, whether her Department has made a recent assessment of the potential impact of re-joining the EU Customs Union on the UK economy, in the context of the UK-EU summit on 19 May 2025.

   Source: Commons

2. 1 May 2025

   Answer

   The OBR has estimated that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU, and that imports and exports will eventually both be 15 per cent lower than had we stayed in the EU. As of the Spring Bu...

   Source: Written answer

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• · Treasury · Answering body

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