Oral Answers to Questions
Debate between Ben Wallace and Alasdair McDonnell(8 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Wallace
What my hon. Friend misses is that export into the Republic of Ireland is also a gateway into the rest of the European Union and provides access to 500 million customers for United Kingdom goods. If we leave the European Union, that will, of course, be hampered; there will be a customs union on our borders, which will mean delays and barriers to our trade.
Dr Alasdair McDonnell (Belfast South) (SDLP)
The Secretary of State will have noticed the recent significant slowdown in foreign direct investment into Northern Ireland because of the uncertainty about the outcome of the referendum. Has the Secretary of State made any assessment of the impact of a UK exit on the future of job creation and specifically of a British exit decision that might arrest foreign direct investment and render the reduction in corporation tax as of little benefit?
Mr Wallace
It is certainly the view of the United Kingdom that if we leave the European Union, that foreign direct investment would be put under threat. It might go elsewhere in the EU rather than in the UK. We do not want to see that happen; we want to continue to remain in the EU. Luckily, I think for all of us, there is not long to go before we can cast our votes.