Brexit: Economic Forecast

Lord Bridges of Headley Excerpts

Wednesday 28th November 2018 Lords Chamber

[Lord Callanan]

I do not think the noble Earl would be happy to be called a Tory by the noble Baroness. This policy will not make the country poorer. On every scenario, this country will continue to grow. A range of possible growth predictions is modelled in this analysis, but of course many other factors can influence economic growth, and this is likely to be a relatively small contributor to the overall economic growth. Of course, what would be truly disastrous would be a Labour Government, who would affect the economic growth of this country. We are proud of our economic record; we have delivered record low levels of unemployment for 40 years, the Government can be proud of their economic record, which will continue.

[Lord Bridges of Headley (Con)]

My Lords—

--- Later in debate ---

[Lord Callanan]

I will agree with my noble friend briefly and then perhaps we can hear from the noble Lord, Lord Bridges.

[Lord Bridges of Headley]

As we have heard, a number of my noble friends have been asking whether Article 50 might be revoked and making the case for this. Yesterday, the European Council’s top lawyer argued that Article 50 cannot be unilaterally revoked but would require the unanimous support of all EU member states. Do the British Government agree with the EU on this point?

[Lord Callanan]

I knew I would regret asking the noble Lord to come in on this one. He will be well aware that as the Minister responsible for this matter, I am unable to comment on the ongoing judicial process beyond saying that the UK will not revoke its Article 50 notice.