European Council

Carolyn Harris Excerpts

Monday 22nd February 2016 Commons Chamber

[The Prime Minister]

I certainly agree with that. We should recognise that there are something like a million jobs in finance in Glasgow and Edinburgh—I think there are almost a million jobs in Manchester and Birmingham. The key point here is this: because we are in the single market, we have the right to passport—that is, to have a bank or a financial services company here in Britain that can trade throughout the EU. Leave the single market, and you lose that right. What would then have to happen is that companies based in the UK would have to move at least some of their jobs to another European country—that is why HSBC said the other day they would lose 1,000 jobs. So real jobs, real people’s salaries and real prosperity are under threat. We really need to explain this. It is complicated, but there is no doubt in my mind: leaving the single market for financial services would mean fewer jobs in Britain.

[Carolyn Harris (Swansea East) (Lab)]

It was interesting to hear the Prime Minister use the word “divorce” in connection with some of the less than helpful comments from the Mayor of London. I think we are all now fully aware that hell hath no fury like a Bullingdon boy scorned. I will be voting to stay in the European Union, and I will help the Prime Minister to convince others. However, if he has had such a good deal, why is he struggling to convince so many in his own party?

[The Prime Minister]

Some people have very long-standing views about wanting to leave the EU. The point I was making about starting divorce proceedings on the basis of renewing the wedding vows is that that is what some people seem to be suggesting, not just the Mayor of London but others—that somehow starting the process of leaving will mean being offered a better deal to stay. I think that is just not the case. We could think about it like this: divorcing not just one person but 27 potentially unhappy partners. While I yield to no one in my belief that I can bring people back, I have seen multiple weddings take place but I have never seen multiple divorce negotiations resulting in a multiple wedding—that would be something!