No-deal Brexit: Short Positions against the Pound Debate

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Department: HM Treasury

No-deal Brexit: Short Positions against the Pound

Hilary Benn Excerpts
Monday 30th September 2019

(5 years, 2 months ago)

Commons Chamber
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Simon Clarke Portrait Mr Clarke
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I agree with my hon. Friend. Clearly, if we can secure a good deal that is fair to this country, which is our central aim, that is what everyone in the House should get behind, because that will take our country out of the European Union on the smoothest basis—[Interruption.] The hon. Member for West Ham (Lyn Brown) says “Fantasy” from a sedentary position, but what I think is fantasy is the idea that our chances of securing a good deal are improved by continuing to propagate a surrender Act. That is the problem, I am afraid to say, that lies at the heart of this debate. The Opposition are, in essence, trying to take power without responsibility, and it is highly unfortunate and detrimental to this country’s interests if we do not all work together as a nation to deliver on what we, as a country, decided was our future course of action.

Hilary Benn Portrait Hilary Benn (Leeds Central) (Lab)
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Can the Minister confirm that the Government’s own economic assessment shows that a no-deal Brexit would have the most damaging consequences for the British economy, investment, jobs and businesses? As that is the case—[Interruption.] Well, we have all read the assessment produced by the Government. As that is the case, can he explain to the House why he is prepared to contemplate that outcome, given the impact it would have on British business?