International Agreements Committee
19 May 2026
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International Agreements Committee House of Lords
00:05 - 00:07
Magic lantern.
00:08 - 02:07
Speaker 6
I think we're live now. Yeah. That's great. Well, thank you very much everyone for coming together today for a continuation of our work on trade in the turbulent world and what The UK can do in order to grow its economy through using current existing future and as, yeah, unthought of mechanisms doing increase our trade around the world and and improve our economy. And I'm extremely pleased to introduce sir Corfrey Faulkner, who was the second permanent secretary of the department for business and trade and the department for international trade.
And I should declare that I worked with sir Corfrey for a number of years, firstly as a non executive director and then as a minister, and found his take on the world, particularly as out of trade, to be particularly powerful. And he was brought in in order to construct our post Brexit trade framework. And since then, he retired from the department, and we're very grateful to Corvo for you coming and speaking to us today. We're we're gonna aim for about fifty or so minutes. We've got some scripted questions, but this is such an important and wide ranging topic.
Please don't feel free please feel free to stray from the specific question and give us your views. I mean, at the end of the day, we are trying to understand where we go as a country from here given a number of different factors. Firstly, the president of The United States' views on how tariffs should function and the actions of America in relation to our own trade policy, the ramifications of Brexit, and a growing trend that we've seen to steer away from significant FTAs and use other less formal memorandums of understanding or sector specific trade deals in order to drive the economy. The issue for us in that instance is that in in many occasions, they're not open to the source of scrutiny that we will be allowed to have if it was a full FTA, and whether or not they actually do yield true trade benefits. So if if I can just kick off with the first question, may may maybe you could use this as an opportunity just to introduce your own thoughts given the inquiry that we're having.
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