Leaving the European Union
Debate between Daniel Zeichner and John Redwood(5 years, 2 months ago)
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Daniel Zeichner
I agree entirely. Just the other day, I was calling on people when canvassing in Cambridge, and was struck by the number of people I was coming across who were raising personal experiences. Very senior engineers were telling me that they were applying for jobs in Switzerland because the research funding upon which they rely through the Europe Research Council will be going there. They have no desire to go and previously had no expectation that they would ever seek to leave such a wonderful place as Cambridge, but if that is where the research money is going, that is where scientists will go. It is a global set-up, and we risk doing huge harm to our industries and our universities.
John Redwood (Wokingham) (Con)
Will the hon. Gentleman confirm that the OECD forecasts show a general slowdown around the advanced world, particularly on the continent of Europe, and show that the UK will grow faster this year than either Germany or Italy? Will he also confirm that there has been a general hit to the car industry because of diesel, which has nothing to do with Brexit.
Daniel Zeichner
The OECD says all those things, but people in the motor industry are very clear that the uncertainty is an absolute killer when it comes to long-term investment. Of course, many of the decisions are not being made here, but in Japan. Those decisions are already being made, and are doing us huge harm. Of course there is a range of factors, but it is hard to imagine such instability not causing problems to our industries and universities.
The Government’s no-deal impact assessment, published two weeks ago, states that
“food prices are likely to increase”
and that customs checks could cost business £13 billion a year—an extraordinary sum of money. I have just come from an event that was about how our maintained nurseries are facing closure for want of a fraction of that amount. Why on earth are we doing it?
The Government’s report also said that the worst-hit areas economically in a no-deal scenario would be Wales, losing 8.1%, Scotland, losing 8%, Northern Ireland, losing 9.1%, and the north-east, losing 10.5%. It is no comfort to those of us in the west midlands and the east that it would be marginally better for us. Reportedly, even the most enthusiastic Brexiteers acknowledge that there could be problems in the short term. At least on that we can probably all agree.