Brexit: Economic Effects

Baroness Kramer Excerpts

Wednesday 21st November 2018 Lords Chamber

[Lord Bates]

Yes, I can. The position will be contingent on the outcome of the Council, but if there is agreement there on the proposal put forward in the withdrawal agreement, and also on the crucial element of political declaration on the future partnership, we would expect to produce that analysis and put it in the public domain next week.

[Baroness Kramer (LD)]

My Lords, yesterday the FT City Network—a forum of more than 50 senior city figures—spoke out in favour of a people’s vote. Another wave of City members wrote to the FT today with exactly the same message. The IoD, to its own surprise, found that a survey of its members produced a majority in favour of a people’s vote. Will the Government finally consider a people’s vote? For business, while no deal would be a catastrophe, the proposed May deal is so second-rate that it diminishes them.

[Lord Bates]

Talking to the British Chambers of Commerce, CBI and all the business organisations, I find that the one thing they all want is for a deal to be done. They want certainty. They want to understand where they are so that they can continue to trade and move forward. That is what the Prime Minister has put before us, that is what the Cabinet has agreed, and that is what we hope will be agreed at the European Council next week. That is the best way forward for Britain, and it is the best way forward for business.