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registered interest false more like this
date less than 2018-11-05more like thismore than 2018-11-05
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Exports more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the report by the Office for Budget Responsibility, Economic and fiscal outlook, published in October, which anticipates exports falling as a share of the overall economy in the next five years. more like this
tabling member printed
Lord Taylor of Warwick more like this
uin HL11296 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-11-19more like thismore than 2018-11-19
answer text <p>The Office for Budget Responsibility is independent of Ministers and any views published are their own.</p><p>Since November 2016, the OBR has not assumed any one particular outcome to EU exit negotiations but has based its forecasts on broad-brush assumptions regarding Brexit that are consistent with a range of possible outcomes, as well as judgements about the economy following the referendum.</p><p>In its October 2018 forecast, the OBR have included a two-year transition period. After this they assume leaving the EU will reduce trade intensity which affects both imports and exports with a broadly offsetting impact on net trade. In its latest forecast, the OBR also revised down its forecast for world trade growth, contributing to a downward revision in UK export market growth in the near term. These factors contribute to the decline in exports as a share of GDP.</p><p>Going forward, the Government will continue to provide support for UK exporters through the Department for International Trade by encouraging more businesses to export, providing information, advice and practical assistance on exporting, connecting UK businesses to overseas buyers, and putting finance at the heart of our offer through UK Export Finance.</p>
answering member printed Lord Bates more like this
question first answered
less than 2018-11-19T16:40:52.617Zmore like thismore than 2018-11-19T16:40:52.617Z
answering member
1091
label Biography information for Lord Bates more like this
tabling member
1796
label Biography information for Lord Taylor of Warwick more like this