Vincent Cable Speech on the EU Referendum at Stansted Airport.

The video discusses the role of small and large companies in the value chain, emphasizing the importance of the single market for exports. It highlights the challenges faced by small companies when exporting outside the single market, using a porridge company as an example. The video contrasts trading goods with services, noting the significance of the services sector in the UK economy. It concludes by discussing the potential for further integration of services within the European Union's single market.

What was one of the main challenges faced by the small company when trying to export to Australia?

• High shipping costs

• Currency exchange issues

• Lack of demand

• Packaging and labeling standards

How did the single market benefit the small company exporting porridge and oatmeal products?

• By providing financial subsidies

• By eliminating trade barriers

• By reducing production costs

• By offering marketing support

What percentage of the UK economy is made up by the services industry?

• 80%

• 70%

• 60%

• 50%

Which organization is mentioned as being less effective than the single market in opening up services?

• World Trade Organization

• European Central Bank

• International Monetary Fund

• United Nations

What is one of the future prospects mentioned for the single market in services?

• Focusing on manufacturing

• Increasing tariffs

• Completing the single market in services

• Reducing the number of member countries