Update on the Progress of EU Exit Negotiations Debate
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Lord Higgins
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Update on the Progress of EU Exit Negotiations
Lord Higgins Excerpts(7 years, 3 months ago)
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Baroness Anelay of St Johns
The noble Lord is right in his presumption that the European Commission is currently saying that the EU citizens who remain here should have better rights regarding bringing family members in in future than would be available to British citizens. Again, this is an area where we are looking very carefully at the detail. We have tried to ensure that families who are here at the time of leaving can ensure that they continue to operate as a family. It is a matter of how you define that. That is what our paper was doing earlier this year. I can say to the noble Lord that we are looking carefully at these issues. It is important that, overall, people should be able to get on with their lives. My goodness, they can be so complicated. Our family structures are so different and etiolated these days. It takes a lot of technical detail to be able to discuss how to resolve a way forward for both sides.
Lord Higgins (Con)
My Lords, may I raise a technical economic, rather than political, point? It is a reality that a pound or a euro today is worth more than a pound or a euro in a year’s time. In looking at these complex financial arrangements regarding the exit payment and so on, we need to agree two things. First, what we are going to use in the negotiations as the base date? Secondly, and importantly, what is the rate of discount—the allowance for the time value of money? Unless we agree on those two points, the figures are going to be very difficult to reconcile.
Baroness Anelay of St Johns
My noble friend has made a very valid point, and he certainly has much better experience in these matters than I do. I am aware that the Treasury was well represented at the discussions last week, and I will ensure that his comments are brought to its attention. I am also aware that the paper issued by the European Commission required that any money paid by the UK to the EU should be in euros.