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With Brexit negotiations firing up once more, concern has turned to the growing likelihood of a no deal Brexit. The Prime Minister stated in September a UK-EU trade deal must be agreed by October 15 or Britain will walk away from negotiations. Today, SNP MP Joanna Cherry voiced her fears over what leaving on WTO terms could mean for UK trade.
Addressing the European Union Committee, Ms Cherry asked: “I know that you recognise there will probably have to be something more robust further down the line.
“Isn’t it the case that experts in this area have said that falling back on WTO rules doesn’t actually work as a subsidy control regime?
“It’s not a subsidy control regime, it’s just a stopgap, isn’t it?”
Mr Frost quickly hit back at the MP’s claims.
He replied: “I’m not sure I would entirely agree with that.
“A number of other countries around the world do have a regime that is based principally on WTO rules plus free trade agreements plus administrative guidance.
“Every country is different and has to frame it in the light of their own traditions.
“But actually if you look globally, it’s the EU regime that’s an outlier really with its policing and rigid rules.”
Lord Frost added: “That’s inevitable, they’re policing the regime of 27 countries.
“Obviously they have to do it in a different way, their political economy is different.
“We will be out of that at the end of the transition period and we can do it differently in a way that is more internationally normal.”
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The Brexit negotiator had told a House of Lords committee earlier in the day that the Government would be “content” to exit on WTO terms.
He claimed they were sure that the country would “prosper” in a no deal setting.
However, Lord Frost also insisted both parties were working to secure a deal as soon as possible.
Talks have been intensified since Boris Johnson and Ursula von der Leyen both urged their teams to reach an agreement in the coming month.
The transition period deadline is December 31, 2020.
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