Economy: Purchasing Managers’ Index
Debate between Lord Bates and Lord Shipley(5 years, 7 months ago)
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Lord Bates
I agree that the uncertainty needs to end. However, the message from the numbers, which my noble friend Lord Borwick began by mentioning, is that whatever the difficulties we have as politicians in resolving the matters before us, men and women out there who are setting up and running businesses, and workers in those businesses, are doing an incredible job at building exports to almost record levels. We have a great deal of confidence in them to continue what they are doing; we must do what we should do.
Lord Shipley (LD)
My Lords, the Minister has talked about the resilience of the British economy. Does he accept that that is because we are inside the European Union, its single market and its customs union?
Lord Bates
The people voted to leave in 2016. Since then, we have seen almost 1 million jobs added to the economy. We saw £48 billion of foreign direct investment into the UK last year with investors knowing of our intention to leave. We have a globally competitive economy, which will continue into the future.