Outcome of the EU Referendum

Ian Murray Excerpts

Monday 27th June 2016 Commons Chamber

[The Prime Minister]

As I have said, I think that one of the greatest challenges will be negotiating the best possible access to the single market, and balancing the issue of the best management and control of migration. That will be a decision for the future Prime Minister, and it will be one of the most important that he or she, and a Cabinet, will have to make.

[Ian Murray (Edinburgh South) (Lab)]

The fact that 78% of the voters in my constituency voted to remain was in no small part due to the contribution the EU makes to higher education and to the large financial services sector in Edinburgh. What is the Prime Minister doing to reassure my constituents and others all over the country, given the uncertainty that he has created by calling this referendum, in the period up to article 50 being introduced in this House, as well as after article 50 and beyond Brexit? There is uncertainty, and people are worried about their jobs and livelihoods.

[The Prime Minister]

First of all, we have to respect the outcome of the referendum. I think it is right not to trigger article 50 because that will start a process that will have to result in an exit within two years. That could be an unmanaged exit if the process is started too soon. The people working in financial services, including the 100,000 who work in Edinburgh and Glasgow, form an important part of our economy—[Interruption.] And in Aberdeen. And in Aberdeen Asset Management; I shall give them a plug as well. We have to do everything we can to get the best possible access to the single market.