Extracts from committee stage (Lords) (day 5) of the Trade Bill - Oct 13
Wednesday, 14 October 2020 07:29
Baroness Bull (CB):...There are five modes of services traded
across borders: remote, in the supplier’s country, in the
consumer’s country, via fly in, fly out, and as an integral
component of a traded good. That last mode of attached or embedded
services—perhaps the long-term maintenance contract for a machine,
for example—has been a great big growth area for the UK in recent
years. The majority of Rolls-Royce’s revenues come not from the
sale of the aircraft engines and other...Request free trial
(CB):...There are five modes of services traded across
borders: remote, in the supplier’s country, in the consumer’s
country, via fly in, fly out, and as an integral component of a
traded good. That last mode of attached or embedded
services—perhaps the long-term maintenance contract for a machine,
for example—has been a great big growth area for the UK in recent
years. The majority of Rolls-Royce’s revenues come
not from the sale of the aircraft engines and other goods it
produces but from the accompanying services that are sold as part
of the package...
(Lab) [V]:...This issue is primarily
about how services are going to be dealt with after the transition
period ends. As the noble Baroness, Lady Bull, put it, the issues
that we face affect all trade but these days most trade in goods is
also wrapped into a service that is provided; she quoted the
figures for Rolls-Royce which I think are
instrumental. We need to be sure that the arrangements that are
made post transition for this area are well founded and will
continue. I assume that that means GATT, which will be applying,
and its four pillars, which she talked about: the ability to
operate in support of trade in-country, in another country, in
support of the provision of services to that country and living and
working there in order to provide such services as are required for
that. These are important issues and we hope that they will get a
full response from the Minister...
To read the whole debate, CLICK
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