At 3.30pm this afternoon (Monday 22nd January), Michael Fabricant will introduce his Analysis of Costs and Benefits (Nafta Membership) Bill in the House of Commons. It will receive its First Reading without debate.
"Now that we have a new US Administration and the US International Trade Commission (a Federal Agency) has published its favourable report on the effects of the UK joining Nafta (North American Free Trade Agreement), Britain should look again at the economics of our joining with the US and Canada in a free trade agreement. We should seize this golden opportunity for our nation." says Michael Fabricant. "With the pound currently low against the US dollar combined with no import duties, British manufacturers will have a head start in an export drive to North America.
"Having met with Staffordshire members of the CBI as well as other manufacturers, I am sure that they will welcome any moves that will strengthen Britain’s exports particularly at a time when the Euro is so weak, it is hindering trade with European countries", adds Michael Fabricant.
Meanwhile, on Tuesday 6th February, Michael Fabricant will also introduce the Analysis of Costs and Benefits (European Union) Bill This will be debated and proposes that at regular intervals, to be determined by Parliament, an independent Commission should investigate the costs or net benefits of our EU membership and report these publicly to Parliament.