Trade Agreements: Japan
The question
To ask the Chancellor of the Exchequer, what steps her Department is taking to evaluate the long-term fiscal impacts of the UK-Japan partnership.
Answered by Emma Reynolds
The Treasury does not produce official economic and fiscal forecasts. The independent Office for Budget Responsibility (OBR) is responsible for producing forecasts of the UK economy.
The relationship has strengthened in recent years, following the 2020 Comprehensive Economic Partnership Agreement (CEPA) and the 2023 Hiroshima Accord, underlining the importance of the UK's relationship with Japan. These agreements have led to stronger economic ties, promoted trade and investment, and targeted mutual economic growth and resilience.
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