Economy

Debate between Lord Agnew of Oulton and Baroness Quin

Monday 28th September 2020 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, I should probably disclose that I live in a listed building and that what my noble friend suggests would therefore greatly benefit me personally. However, the reality is that in this crisis we have to look at a higher level. I am encouraged to see that the construction industry is coming back at full throttle and that the large number of construction workers who were furloughed in March and April have largely been reintroduced into the sector. We are also about to announce the green energy scheme, which is a £2 billion to £3 billion investment in energy improvements for public buildings that will also be available to the public.

[Baroness Quin (Lab) [V]]

My Lords, at a time of great difficulty for so many of our citizens, do the Government agree with the British Retail Consortium that a no-deal Brexit at the end of this year would add over £3 billion to the cost of importing food and drink, making life even more difficult for those on low incomes? If the Government do not accept the British Retail Consortium’s figures, what is their own assessment of the effect?

[Lord Agnew of Oulton (Con)]

My Lords, I think that we have published our worst-case scenarios for a no-deal Brexit or leaving the European Union without a free trade agreement. Of course there are risks, but we remain optimistic that a deal will be done.