The new bill is a welcome move for Northern Ireland businesses.
The UK Internal Market Bill was introduced on 9 September 2020 and will guarantee that, from the end of the Transition Period, companies can continue to trade with the rest of the UK. Provisions within the UKIM Bill will ensure that businesses based in Northern Ireland will have ‘unfettered access’ to the rest of the United Kingdom, as set out in the New Decade, New Approach agreement.
For centuries, shared prosperity has been the cornerstone of the UK Internal Market and maintaining this integrated market is precisely what the UKIM Bill will deliver by ensuring the free flow of capital, labour, goods and services; providing certainty for businesses and consumers across the UK.
Major business figures from across Northern Ireland have today shared their support for the UK Internal Market Bill (UKIM) as it passed its House of Lords Second Reading last Tuesday and moved to Committee Stage on Monday.
Business Leaders from Northern Ireland businesses including Sliderobes Group, Moore Concrete Products and Cross Refrigeration have called the Internal Market Bill a ‘welcome move’ to protect Northern Ireland trade and jobs from 1 January 2021.
On 1 January 2021, powers previously held by the EU, will flow directly back to Stormont, Holyrood and the Senedd thereby giving them greater control and influence than they ever had while the UK was inside the EU. The Bill will protect the Union whilst safeguarding the devolved administrations’ right to regulate as they do now.
The Secretary of State for Northern Ireland, Brandon Lewis, said: “I am delighted to hear major voices from the Northern Ireland business community share their support for the UK Internal Market Bill. More than half of Northern Ireland’s external trade is with the rest of the UK so it is imperative that Northern Ireland continues to have unfettered access to the whole of the UK market at the end of the Transition Period. The Bill will provide legal certainty and ensure the continued prosperity of people and businesses within Northern Ireland.”
Image: Belfast, Northern Ireland by Maciej / Adobe Stock
Thanks!
Our editors are notified.