Extract from second reading debate (Lords) of the Trade (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) Bill - Nov 21

The Earl of Effingham (Con):...Prior to having the honour and privilege of joining your Lordships’ House, I spent over 20 years advising and winning business from around a third of the companies in the FTSE 100. I greatly enjoyed my trips to Derby to see Rolls-Royce and Farnborough to see BAE, two of our leading UK exporters. For the past few years, my attention has migrated to SMEs. This focus has made me realise that while our large, listed businesses of course make amazing contributions to the economy and employment, SMEs are the lifeblood of our nation. I speak daily to these firms and am constantly dazzled by their entrepreneurial spirit, their determination, their grit and their ability to innovate and adapt on what can often be a very bumpy ride. It is these enterprises which we hope will grow to be the future Rolls-Royces and BAEs. We should do everything that we can to support them. The Bill and the agreement behind it aim to achieve that...

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