David T C Davies
Main Page: David T C Davies (Conservative - Monmouth)Department Debates - View all David T C Davies's debates with the Wales Office
(8 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Alun Cairns
I would like to advise the House and the hon. Gentleman that the Erasmus programme was developed by a Port Talbot man some years ago. It has provided fantastic opportunities for students across Europe to share best practice and broaden the base of their knowledge. Of course, the European Investment Bank has also invested hugely in higher education and the new campus at Swansea University, worth more than £450 million, has benefited from such diversification.
David T. C. Davies (Monmouth) (Con)
The Secretary of State will surely have seen yesterday’s Cardiff University report showing that Britain pays nearly £10 billion a year net to be part of the European Union. Does he agree that, under the Barnett formula, that money could leave Wales £500 million better off if we vote leave on 23 June?
Alun Cairns
My hon. Friend is of course failing to recognise that independent forecasters—whether the IMF, the OECD or the Governor of the Bank of England—have talked about the negative impact Brexit would have on the Welsh economy. A £2 billion reduction in the scale of the economy, costing 24,000 jobs, is a step we cannot afford to take.