Blitz Bureau
THE British Government will fast track a review of the UK Internal Market Act, and work with devolved governments to deliver better outcomes for businesses and citizens across the United Kingdom, according to an official statement. The legislation was passed in the wake of Brexit with the aim of avoiding trade barriers across the UK.
In a written ministerial statement, the Government has pledged to launch a review in January 2025 and complete summer 2025 – ahead of the legal deadline for a review by December 2025. The value of the UK internal market has been estimated at around 10 per cent of the UK’s total GDP, and Scotland, Wales and Northern Ireland trade more with the rest of the UK than with the rest of the world.
The UK Government will engage directly with a wide range of stakeholders, including the devolved governments as part of the review, aiming to improve transparency of the UKIM process and ensuring policy divergence can be aligned with better outcomes for businesses and consumers, and delivering economic growth to every part of the UK.
Minister of State for Trade Policy Douglas Alexander said,“The UK internal market is essential for the UK economy, allowing people and business to buy and sell goods, provide services and work across the four nations of the UK. “This UK government is committed to engaging with the devolved governments, and we recognise frustration with how the UK Internal Market Act has operated in the past, particularly the lack of clarity in terms of how it operates.
“That is why we are bringing forward a review of the Act six months earlier that the statutory deadline. We will engage directly with the devolved governments as part of the review in a good faith process that seeks to balance the different policy choices that devolution affords us, while protecting the integrity of the internal market to ensure we can continue to drive for economic growth, jobs and higher living standards.
“This Government is delivering our Plan for Change with investment and reform to deliver growth and put more money in people’s pockets. Reviewing this Act is a key part of that,” he added.
