Oral Answers to Questions

Debate between David Davis and Mary Glindon

Thursday 9th March 2017 Commons Chamber

[Mr Davis]

I think, frankly, the whole economics profession is beginning to take a lesson in predictions about the effects of Brexit. My hon. Friend is right. There has been a dramatic uptick in the current year’s growth, and in the forecasts for ’19, ’20 and ’21, as it turns out. The simple point is that many companies are coming here now, such as McDonald’s, WhatsApp, Google—I could go through a whole list—[Interruption.] I will not do that, Mr Speaker. Those companies are showing what they believe by voting with their feet.

[Mary Glindon (North Tyneside) (Lab)]

T9. In the north-east, the voluntary sector relies heavily on the European Social Fund to carry out its fantastic work. As the region receives the highest per-head funding from the ESF, how will the Minister address the sector’s concerns about funding post-Brexit?

[Mr Davis]

These concerns have been met pre-Brexit by the Treasury underwriting the commitments up to and through Brexit. Of course, the hon. Lady has to remember that the European Union will have a complete budgetary review in 2020. We will be giving clear attention to priorities such as this when we come to write our own budgets after 2019.