European Union: United Kingdom Membership Debate

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Department: Foreign, Commonwealth & Development Office

Baroness Smith of Newnham

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Nuclear Reactors

European Union: United Kingdom Membership

Baroness Smith of Newnham Excerpts

Asset Freezing (Compensation) Bill [HL]
Monday 23rd May 2016

(8 years, 1 month ago)

Lords Chamber
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Baroness Anelay of St Johns Portrait Baroness Anelay of St Johns
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I find lots of things interesting, my Lords.

Baroness Smith of Newnham Portrait Baroness Smith of Newnham (LD)
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My Lords, if we believe Her Majesty’s Treasury’s estimates of the short-term and long-term consequences of a vote to leave the European Union, which would leave the United Kingdom financially much worse off, would that not have negative ramifications in terms of our defence expenditure? The 2% commitment to NATO is excellent, but if we have a smaller economy, that means less money, fewer defence capabilities and a weakened, less secure United Kingdom.

Baroness Anelay of St Johns Portrait Baroness Anelay of St Johns
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The noble Baroness is right.

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