(5 years, 4 months ago)
Commons ChamberAgain, the way to rule out no deal is to back a deal, but the hon. Lady raises an important issue in relation to British Steel. As she is well aware, the Government have been working very closely with the industry and the owner, Greybull Capital. She will be well aware, given her constituents’ interests, of some of the global issues in terms of demand, but this is a live issue. I am discussing the issue with industry leaders and trade unions, too.
Even the International Trade Secretary appears to recognise that article 24 of GATT cannot be invoked unilaterally. There will be no transition period in the event of no deal. That much must be clear to everyone by now. Will the Secretary of State agree that no self-respecting Minister could possibly serve in the Government of a Prime Minister in denial about the reality of a no-deal Brexit?
The clue is in the hon. Gentleman’s own question. He talks about “unilaterally”. Clearly, GATT 24 would need to be agreed. I think all the leadership contenders recognise that.
(5 years, 8 months ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
My right hon. Friend the Prime Minister expressed the frustration that millions of people across this country feel at the inability of this House to move the debate forward and to honour its commitments to leave the EU and to honour the referendum of 2016.
The Prime Minister said at her press conference last night that she would honour the commitments made by the Minister for the Cabinet Office to hold indicative votes if the withdrawal agreement was defeated again. I think that the Minister just confirmed that he agrees with her on that point. So when he confirms again in answer to this question that that is what he has just said, will he also confirm that the Government will be bound by the results of those indicative votes as a way out of the crisis that this country is currently in?
All I said—I want to repeat it—is that, in the event of the House voting down the meaningful vote, it would not be unreasonable to have subsequent votes to find out what the House actually supported.
(8 years ago)
Commons ChamberI presume that one of the reasons the Secretary of State used to believe in publishing a White Paper was that he wanted to ensure that business had confidence in the economy of this country. He will know that in the past week both the Japanese and Indian chambers of commerce have expressed grave concern about the current uncertainty and the situation’s impact on the confidence of international investors. Why does he not go ahead with publishing his White Paper and set out a plan so that international investors can have the confidence they need to continue investing in this country?
(8 years, 1 month ago)
Commons ChamberIt is an unwise Minister, particularly one who is not a Treasury Minister, who passes comment on what the right value of the pound is. There are benefits and disadvantages in movements in either direction. If we look at other countries—it is safer for me to do that—we can see that the euro is widely viewed as being undervalued for the German economy and overvalued for the Greek economy. The hon. and learned Lady can decide for herself which she prefers, but the Greek economy is in a worse state than the German economy.
I do not agree with my right hon. and learned Friend the Member for Rushcliffe (Mr Clarke). There will definitely be very large markets for British industry after we exit the European Union. What the hon. and learned Member for Edinburgh South West (Joanna Cherry) has seen on the currency markets has been a response to an article about President Hollande’s comments, massively exacerbated by program trading, which is corrected later on.
Just today, the British Retail Consortium has said that if we depend on World Trade Organisation rules, we could see price rises of 27% for meat, 16% for clothing and footwear and 14% for Chilean wine. Those are not some theoretical actions, they are price rises in the real world. Will the Secretary of State accept the reality of the damage that would be done by such price rises, and what will he do to ensure that the BRC’s predictions do not become a reality?