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Brexit

Britain’s Trading Future – Liam Fox 27 Feb 2018

Continuing the trend for Cabinet Ministers making speeches about Brexit, Dr Liam Fox made a speech in London which outlines the Government’s vision for the UK’s commercial future, and our leadership role in the global economy.

Thank you Constantin for the introduction. And thank you to Bloomberg for hosting us in these wonderful surroundings. It is a pleasure to be here today to talk about Britain’s trading future.

The historic decision by the British people to leave the European Union has presented this country with a number of choices about its future global direction. It has generated a great deal of soul-searching and caused a number of important questions to be aired. Some of these relate specifically to the referendum decision itself, others are questions which needed to be addressed anyway but have been brought into sharper focus by that decision.

Where do we see our place in the world?

What sort of economy and what sort of country do we want to be?

What should our influence be in global affairs and global trade?

How will we generate the income we will need to ensure a prosperous and secure future for the generations that come after us?

Since the referendum vote and the creation of the Department for International Trade, my ministerial team and I have undertaken over 150 overseas visits, to all parts of the globe, to old friends and new allies alike and to markets large and small. From across the world, the keenness to deepen trade and investment ties with this country and once again hear us champion the case for free trade, is palpable.

And why should that surprise us?

The United Kingdom is one of the world’s largest and most successful economies. We are at record levels of employment. Our success is underpinned by a legal system whose reputation is second to none. We have a skilled workforce and a low tax and a well-regulated economy. We are home to some of the world’s finest universities, our research and development capabilities are cutting-edge and our financial institutions world-leading. We are in the right time zone to trade with Asia in the morning and the United States in the afternoon, and, of course, we speak English, the language of global business.