Draft Insolvency (Amendment) (EU Exit) (No. 2) Regulations 2019 Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Alison Thewliss
Main Page: Alison Thewliss (Scottish National Party - Glasgow Central)Department Debates - View all Alison Thewliss's debates with the Department for Business, Energy and Industrial Strategy
Draft Insolvency (Amendment) (EU Exit) (No. 2) Regulations 2019
Alison Thewliss Excerpts(5 years, 1 month ago)
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Alison Thewliss (Glasgow Central) (SNP)
I will be brief. I welcome the consultation with the Scottish Government and the recognition that personal insolvency is a devolved matter, and that the regulations are necessary in the event of no deal. My wider concern is the broader economic impact of Brexit—of losing access to the single market. The Fraser of Allander Institute estimates that Brexit will cost 100,000 jobs in Scotland, which will involve some degree of insolvency. We must be realistic about that.
I note that there is no impact assessment, because the Government estimate that it is under £2.7 million per year, as was laid out by Lord Duncan of Springbank when the matter was discussed in the House of Lords. Could the Minister give further detail on how that figure was arrived at?
The SNP will not oppose the regulations. They seem necessary, as the hon. Member for Sefton Central said, unlike the delegated legislation that we faced yesterday. This is a far more appropriate use of statutory instruments. I am content to let this one go.