Energy: UK Trade with EU
The question
To ask the Minister for the Cabinet Office, what assessment he has made of the potential impact of dynamic alignment with the EU on energy and the carbon adjustment mechanism on trade deals with other nations and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership; and whether dynamic alignment with the EU would take precedence over existing trade deals.
Answered by Nick Thomas-Symonds
We have made a choice to align with the EU in some areas where it makes sense to do so in our national interest - such as our food and drink and emissions trading agreements. Combined, these agreements alone are set to add up to £9 billion a year to the UK economy by 2040. A linking agreement would also save UK industry from paying the EU CBAM charge on £7bn worth of UK exports. We have recently started negotiations on joining the internal electricity market. The government will ensure these agreements are consistent with its wider international obligations.
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