New Partnership with the EU

Catherine McKinnell Excerpts

Tuesday 17th January 2017 Commons Chamber

[Mr Davis]

Following my earlier oleaginous comments, of course I will follow the Prime Minister’s lead. Yes, financial services are an enormously important industry, supporting—along with all the associated service industries that support it—1.9 million jobs, so we will treat it as incredibly important. It also generates a great deal of revenue for the Treasury, however, so even if I did not pay attention to it, I am sure the Chancellor would.

[Catherine McKinnell (Newcastle upon Tyne North) (Lab)]

Some 58% of north-east exports are destined for the EU—10% more than the UK average—which leaves our region the most exposed to leaving the single market, so will the Secretary of State say what assessment he has made of the risks and what conversations he has had with business organisations and others in the north-east to ensure that our voice is heard in these discussions and that the jobs that depend on our access to the single market are not put at risk?

[Mr Davis]

I am not a southerner, so the hon. Lady will understand that I come at this with a slightly different view from some. Companies such as Nissan clearly took a view too. I want to make it clear to the hon. Lady that the aim of this strategy is to deliver the maximum possible access to the EU marketplace, as well as access to other global marketplaces. Those two things will be to the benefit of the north-east as much as anywhere else.