Brexit: Single Market

Baroness Ludford Excerpts

Monday 24th October 2016 Lords Chamber

Asked by

[Baroness Ludford]

To ask Her Majesty’s Government how they intend to fulfil the pledge in the 2015 Conservative Party manifesto to “safeguard British interests in the Single Market”.

[The Parliamentary Under-Secretary of State, Department for Exiting the European Union (Lord Bridges of Headley) (Con)]

My Lords, we will seek the right deal to give UK businesses the maximum access and freedom to trade with and operate in the single market. We are analysing the entire UK economy, looking in detail at over 50 sectors and cross-cutting regulatory issues to understand the key factors for business and the labour force.

[Baroness Ludford (LD)]

I thank the Minister for that reply. Given the importance of trust in politics, is it not a problem that the resounding yes to the single market in the Conservative manifesto, on which this Government were elected just last year, has become, in effect, a no to the single market? Even more important, is it not a huge blow to this country’s economic prospects if there is no coherent and responsible objective to keep all parts of the UK and all sectors of the economy in the single market?

[Lord Bridges of Headley]

I entirely agree with the noble Baroness about maintaining trust in politics. She is absolutely right about quoting page 72 of the Conservative Party manifesto, which I have in front of me. However, I draw her attention to the next paragraph, which says:

“We will hold that in-out referendum before the end of 2017 and respect the outcome”.

It is important that we respect the outcome of the referendum. Regarding the deal that we are seeking, we obviously wish to get the best possible arrangement for British companies to trade in goods and services across Europe while taking control of immigration. I am not going to speculate on what that looks like at this stage—I am sorry, but that is a refrain noble Lords will hear a lot—but the UK is in a unique position and we will be seeking a bespoke agreement with the EU.