Government’s EU Exit Analysis

Debate between Seema Malhotra and Rachel Maclean

Wednesday 31st January 2018 Commons Chamber

[Rachel Maclean]

I thank my right hon. Friend for that intervention. Absolutely: when we have spoken to businesses in the Select Committee hearings, of course they want certainty, but the point I am making is that it cannot be provided, whether it is Brexit or not, in any economic situation to the extent that some people seem to want.

[Seema Malhotra]

Does the hon. Lady not agree, however, that there is a difference between uncertainty in a macroeconomic climate and legal certainty about how we may be trading with our neighbours?

[Rachel Maclean]

I agree that there are various areas where uncertainty can exist, but there is legal uncertainty when a business enters any new market or develops any new product. That always exists and businesses need to take that into account. The debate today seems to be about the need to provide certainty for businesses. It would be very desirable to provide certainty, but it cannot ever be done in quite the way suggested by forecasts and economic analysis.