Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Chris Philp Excerpts
Tuesday 2nd July 2019

(5 years, 5 months ago)

Commons Chamber
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Lord Hammond of Runnymede Portrait Mr Hammond
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As I have consistently said in this House, I do not believe that a no-deal exit would be in the interests of this country, and I will do everything I can to ensure that we avoid it, but an exit based on a negotiated deal that allows us to continue a close trading relationship with the European Union can work for Britain, and that is what I will be arguing for.

Chris Philp Portrait Chris Philp (Croydon South) (Con)
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Is the Chancellor aware that only 18% of Scottish exports go to the rest of the European Union but 61% go to the rest of the United Kingdom? Is not the Union that really matters to Scotland the Union of the United Kingdom?

Lord Hammond of Runnymede Portrait Mr Hammond
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Yes, my hon. Friend is exactly right. The Scottish economy would be far more adversely affected by a breach of trading relationships with the rest of the United Kingdom than it will by a breach in trading relationships with the European Union.

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Jesse Norman Portrait Jesse Norman
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I am grateful to the hon. Lady for the question, and I am happy to refer her to the welfare Secretary on the matter.

Chris Philp Portrait Chris Philp (Croydon South) (Con)
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Does the Chancellor share my concern about the way some local councils are misusing Public Works Loan Board loans to speculate on commercial property, including many in Surrey?