§ Mr. ChaytorTo ask the Secretary of State for Trade and Industry what estimate he has made of the benefits to the United Kingdom economy in(a) output and (b) jobs of the Uruguay round of trade and investment talks. [71757]
§ Mr. WilsonIn 1994, the GATT secretariat estimated that, by the year 2005, the Uruguay Round Agreement could boost world incomes by up to 1.4 per cent. per annum and European Union incomes by up to 1.7 per cent. per annum.
93WNo reliable estimates have been made of the output or employment benefits of the Agreement to the UK alone. However, as the second largest trader with non-EU economies among EU Member States, the UK is likely to be a major beneficiary of these projected income gains.