Lord Stoddart of Swindon
Main Page: Lord Stoddart of Swindon (Independent Labour - Life peer)Department Debates - View all Lord Stoddart of Swindon's debates with the HM Treasury
(13 years, 3 months ago)
Lords ChamberI am very grateful to my noble friend. Of course, we discussed some of the structural reform issues in a debate in the Chamber last Thursday. I can reiterate and confirm that the Government are working very hard indeed to be an active supporter of the whole 2020 structural reform programme. Completing the single market is perhaps the most critical component of that, and the Government are pushing very hard for that to happen.
My Lords, in the light of the huge increases in our net contribution, which will continue, is it not time that we had a cost-benefit analysis of our membership of the EU; or, perhaps better still, a referendum on whether we should remain in it?
My Lords, the analysis is carried out periodically by the Treasury. Reviews of the independent analysis of the benefits of our membership are available on the Treasury website. Europe accounts for 40 to 50 per cent of our exports. It is critical that we play a constructive part in Europe and that we work on factors such as those referred to by my noble friend Lord Newby to make sure that the market works better and that the UK takes full advantage of it.