Nigel delighted about UK trade deficit narrowing

Nigel Evans, MP for the Ribble Valley and Vice-chairman for the International Trade committee has welcomed the news about the UK trade deficit tightening by £3.8 billion, the highest figure since 1998. According to the figures released on Friday the 9th of December by the Office for National Statistics this has happened as a result of the UK deciding to leave the European Union. Further the UK economy grew by 0.5% during the three months post the referendum. The decision has prompted a depreciation of the sterling which made British goods more lucrative and foreign goods more expensive. Subsequently this has resulted in a boost to exports and a decrease of imports.

Mr Evans said:

“This illustrates one of the benefits of Brexit, namely competitive exports and therefore a potential reduction in our current account deficit. Nevertheless we still must make sure that the UK receives the most beneficial trade deals in the near future both with the EU and with non-EU countries. It is of utmost importance that those trade deals do not just help the City of London thrive but also bolster the development of regional parts of the UK such as the Ribble Valley.

“Further without EU interference we are able to decide and implement our own policies through our parliament.”

With Article 50 being triggered by March 2017 the UK is free to make deals outside the EU thus it is able return to the world markets enabling it to take advantage of more efficient producers across the globe. The protection of citizenship rights of British nationals living in the EU is also at heart of Mr. Evans’ policy ideas. It shouldn’t be difficult to obtain an appropriate settlement as there are around 2 million more EU migrants in Britain than vice versa.