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Danny McCance 7 Nov 2017 11:45am

Government announces new trade and customs bills

The government announced that the new bill, essential to the domestic legislation required for Brexit, entered parliament today and will be followed shortly by a new customs bill

The new legislation aims to provide the UK with the framework for independent trade post-Brexit and to provide some certainty for businesses and international trading partners, according to the government.

The new trade bill will allow for the UK to create powers to assist in transition with existing EU trade partnerships; provide the UK with continuing access to government contacts in other countries; establish the Trade Remedies Authority (to protect UK businesses) and ensure the UK government has legal abilities to acquire trade information, it said.

The new customs bill, known as the Taxation (Cross-border Trade) Bill, will also soon enter Parliament as part of the creation of a new UK tariff regime.

It will maintain a functioning movement of goods "from the day we leave the EU by continuing the VAT and excise regimes in line with the final deal reached in negotiations," said a statement from the Department for International Trade.

 

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