(6 years, 11 months ago)
Commons ChamberThat is exactly what Michel Barnier said. The Secretary of State for Exiting the European Union wants a Canada-plus-plus-plus deal with a special arrangement for banks, and the chief negotiator has said that that is impossible for two reasons. It is against the red lines that the Government have already drawn for themselves, so they are arguing against their own policy. Indeed, we already have special arrangements in place for free and unfettered access for all our sectors; they are called the single market and the customs union. When we have debated the matter in this Chamber on other days, I have made the point that the question of whether or not we agree with the single market and customs union is essentially irrelevant to the Bill. The Government’s negotiating position should, at the very least, keep those options on the table so that the Government can look at them and ask whether they are the way forward.
Why might we remain members of the customs union and the single market for the transition period? We would do that to allow businesses the certainty, security and stability that they require to make the changes that they need to make. When we come out of that transition period—it will not be in two years, according to Michel Barnier; it may be much sooner—we will have to have a system that is, no doubt, worse than that which we had during the transition period.
I am grateful to my hon. Friend the Member for Bristol East (Kerry McCarthy) for raising Canada-plus-plus-plus, because that is impossible to achieve with the red lines that have been drawn. Perhaps the Minister will come to the Dispatch Box—he can intervene on me, if he likes, or on any other hon. Member—and tell us which red lines the Government are willing to drop to achieve the Government’s aspiration of Canada-plus-plus-plus with a special deal for financial services.
Just as my hon. Friend the Member for Bristol East (Kerry McCarthy) took evidence this morning from the Environment Secretary, the Health Committee took evidence yesterday from representatives of the pharmaceutical industry. They were completely realistic about the fact that the Government are not going to get any special sectoral deals, and that there will not be any cherry-picking. They unanimously made it clear to us that the only solution for us is to stay in the customs union and the single market, certainly for the transition and possibly—hopefully—beyond that.
That is the key. We will have had 64 hours of debate in this Committee by the time we vote at 10 minutes past nine this evening. If we distil all our debates over those 64 hours, we get to the conclusion that we should stay in the single market and the customs union. I cannot understand why the Government have decided to throw that entire strategy out the window, probably for ideological reasons.