Oral Answers to Questions

Ian Murray Excerpts

Thursday 16th May 2019 Commons Chamber

[Stephen Barclay]

The hon. Gentleman is right to highlight an under-discussed area of policy. Some Members want only to talk down the opportunities of Brexit, rather than to talk about what we can do with the freedoms that Brexit unlocks. One of those freedoms is in respect of food labelling, which is an area in which the United Kingdom can apply a more bespoke approach and in which there will be opportunities. Indeed, last week I was in Scotland with manufacturers and we discussed just such issues.

[Ian Murray (Edinburgh South) (Lab)]

3. What recent assessment the Government have made of the effect on the UK economy of the UK leaving the EU.

[The Parliamentary Under-Secretary of State for Exiting the European Union (Kwasi Kwarteng)]

In November 2018, the Government published their economic analysis of leaving the European Union. In doing so, the Government delivered on their commitment to provide appropriate analysis to Parliament. The publication provides an assessment of how different exit scenarios may affect the sectors, nations and regions of the UK economy in the long run.

[Ian Murray]

If the rumours are true, the withdrawal agreement Bill will come back to the House shortly. There is no credible analysis, including from the Government, that shows that any form of Brexit will be beneficial to the UK economy, so will the Bill include a detailed economic and environmental impact assessment of its impact on every single sector, region and nation of this country?

[Kwasi Kwarteng]

The hon. Gentleman has been in the House long enough to know that I cannot possibly reveal details of the Bill ahead of its introduction. What I can say generally is that the UK economy is performing strongly—much more strongly than many of his doom-mongers and naysayers have suggested. Employment levels have broken all records, and there are 3.6 million more people in work than there were in 2010. Business investment in the UK stood at almost £47 billion in the first quarter of this year—that is an increase of 30% since we took office in 2010. Generally, the UK is the top destination for inward investment in Europe. Amid uncertainty, the economy is performing well.