Angus Brendan MacNeil
Main Page: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)Department Debates - View all Angus Brendan MacNeil's debates with the HM Treasury
Banking in Scotland
Angus Brendan MacNeil Excerpts(13 years, 7 months ago)
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Mr Angus Brendan MacNeil (Na h-Eileanan an Iar) (SNP)
Would the hon. Gentleman care to inform hon. Members about unemployment in Norway, Iceland and Ireland relative to the United Kingdom and about the gross domestic product per capita in those countries? If he cannot provide an answer, I will.
Mr MacNeil
Unemployment in Norway and Iceland is lower than in the UK and unemployment in Ireland is higher, so on unemployment the arc of prosperity beats the UK 2-1. GDP per capita in Norway, Ireland and Iceland is higher than in the UK, so on GDP the arc of prosperity beats the UK 3-0.
Mr Davidson
That is presumably why the SNP no longer mentioned it at all. Ever since Iceland’s economy became so bad that part of the island exploded, we have heard little about the arc of prosperity from the SNP.
We went across to Ireland because, like Scotland, it was—[Interruption.]
Andrew Rosindell (in the Chair)
Order. The hon. Member for Na h-Eileanan an Iar (Mr MacNeil) will have a chance to contribute to the debate later. Perhaps Mr Davidson would like to continue.
Mr Davidson
Indeed, all that is true. However, I am in danger of becoming diverted. Far be it from me to allow that to happen. I look forward to hearing exchanges on such matters later.
Our visit to Ireland was helpful and constructive. I want to put on the record that we were pleased that all those whom we met were prepared to be perfectly open with us and that they put everything that we asked for in front of us. That made the trip more interesting, enjoyable and educational than it might otherwise have been.
It is clear that in Ireland there was a sort of crony capitalism, where everybody not only knew each other, but lent each other money. The housing prices in particular rocketed upwards to such an extent that when the crash came the central bank was not able to bail out those who found themselves in difficulty in quite the same way that we in the UK were able to. Scotland had the great advantage of being part of the Union and therefore the Bank of England was able to bail out the Bank of Scotland and the Royal Bank of Scotland.
Mr MacNeil
Did the hon. Gentleman meet many people in Ireland who wanted to return to being part of the UK or did they feel that being a low-growth area of the UK would mean not being as successful as being an independent country?
Mr Davidson
It is unrealistic to expect that many in Ireland would want to return to being part of the UK, because people there felt that they wanted independence for Ireland even if it impoverished them. Many people we met recognised that, in many ways, they were becoming more of a colony of the UK now than they had been, because high streets in Ireland were run by Tesco and WH Smith, for example.
A relatively small number of Irish businesses seemed to have a presence and they no longer had influence on the UK. People there were unhappy that they no longer had control over their own currency, because, like the SNP, they wanted to—and did—join the euro, which meant that they were unable to devalue competitively in a way that might have produced a boost for their economy. There was much weeping, wailing and gnashing of teeth, as perhaps the Irish are prone to do, about that issue.
There is no doubt that the difficulties faced by the Irish Government and people were exacerbated by Ireland’s being a stand-alone economy without control over its own currency. The Irish Government have been making huge cuts in public services—cuts in wages, pensions and services—all of which were going through when we visited. Some of those might come about now, but seeing all that was helpful and constructive.
Mr Davidson
I am sure that I will. However, the debate is not about the future economic development of Scotland; it is about the Committee’s report, which we produced some time ago. My role as Chair is to discuss what we covered at that time and ensure that it is all seen in context.
Mr MacNeil
Given that the hon. Gentleman apparently did not meet anybody who wanted to rejoin the UK, does he feel that Ireland should rejoin the UK?
Mr Davidson
It is a matter for the Irish people, not for us. In the same way, it is for Scottish and Welsh people to decide whether they wish to remain in the UK—and it would be for the people of the Falklands to decide whether they wanted to join the UK and for the people of Gibraltar to decide whether they wanted to join Spain. All these things are matters for the people involved.
Mr Davidson
It is up to them. That is my opinion. Argyll, I believe, should remain part of Scotland.