EU Membership: Economic Benefits

Lord Beamish Excerpts

Wednesday 15th June 2016 Commons Chamber

[Phil Wilson (Sedgefield) (Lab)]

History shows what happens when this country turns its back and stops engaging with Europe. That is why most of the world and many experts are asking us to remain where we are. Those who say that we must look to the world as well as to the EU are correct and I agree with them, but we should do that as part of the biggest and richest single market in the world. If the rest of the world is telling us that we can best deal with the rest of the world by being in the EU, we should listen. The USA, China, India, Canada, Australia, New Zealand, Japan and the whole Commonwealth have said that we should remain where we are. Not one country has come out and asked us to leave the EU. Only Russia and North Korea might want us to do that.

World economic forums such as the OECD, the International Monetary Fund and the World Trade Organisation all say the same. Unite, the GMB, the CBI and the National Farmers Union say we should remain where we are. NATO says we should remain where we are, as do universities and 90% of scientists. The Royal College of Midwives says the same thing. Even the Royal Society for the Protection of Birds says, “Stay where you are.” If the coalition telling us to remain where we are stretches from the world’s superpowers to the local birdwatcher, we should listen to what they have to say.

I want to say a few words about the north-east of England and the con that the leave campaign is perpetrating on people not just in the north-east, but across the country. The north-east is a net beneficiary of EU grants and subsidies that help to train our young people for work and fund small businesses, our universities and agriculture, helping our economy to grow. Even the Chancellor of the Exchequer said on Monday that leaving the EU would put the northern powerhouse at risk. Between now and 2020 the north-east is due to receive about £800 million from the European Union.

[Mr Kevan Jones (North Durham) (Lab)]

Does my hon. Friend agree that the north-east of England has benefited tremendously from inward investment, of which the most successful recent example is Hitachi in County Durham? I pay tribute to him for his role in securing 700 well-paid jobs building trains not just for the UK market, but for Europe.

[Phil Wilson]

My hon. Friend is right. Hitachi has come to the north-east of England for two reasons: it has an excellent workforce and is the gateway to Europe. We know that its business model for that investment— £82 million in Newton Aycliffe in my constituency—was predicated on the fact that we are part of the EU. Those who support the leave campaign say that we should not worry about losing the £800 million that we would get from the EU because they will find the money themselves.