Leaving the EU: Economic Analysis Debate

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Department: HM Treasury

Leaving the EU: Economic Analysis

Alison Thewliss Excerpts
Wednesday 28th November 2018

(5 years, 11 months ago)

Commons Chamber
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Mel Stride Portrait Mel Stride
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A second referendum would be deeply divisive for our country. It would send a signal—[Interruption.] The hon. Lady has had her say. She and I campaigned on the same side in the referendum. I wanted us to stay in the European Union, but the difference between us is that I am a democrat, and I believe that when we have a referendum, which was widely debated over a long period, and a result is given, on the highest turnout of any electoral contest in our country, that result must be respected.

Alison Thewliss Portrait Alison Thewliss (Glasgow Central) (SNP)
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UK Government analysis in 2014 said that Scottish independence would cost the economy 0.4% to 1%, but HM Treasury analysis today says Brexit will hit the UK economy by 3.9%. With apologies to my former colleague Callum McCaig, the previous Member for Aberdeen South, does the Financial Secretary to the Treasury honestly believe that the UK can afford to be independent?

Mel Stride Portrait Mel Stride
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Yes is the answer. We have a bright future ahead of us. We have the opportunity, with this deal, to go out and do other deals around the world with other countries. The report makes specific reference, for example, to the United States, China, India and other important trading nations. We know that those parts of the world outside the European Union are growing far more strongly than countries within the bloc of the EU27, so I am optimistic about the future of my country.