HC Deb 23 November 1994 vol 250 c203W
Mr. Yeo

To ask the President of the Board of Trade what is his latest estimate of the likely benefits to the United Kingdom of ratification of the GATT Uruguay round.

Mr. Needham

The GATT has recently estimated that by 2005 the Uruguay round will boost annual world income by at least $510 billion. For the EU, the benefit would be around $164 billion—an annual increase equivalent to more than 3 per cent. of GDP. There is every reason to believe that United Kingdom income will increase in line with that of the EU as a whole.

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