European Council

James Cartlidge Excerpts

Monday 22nd February 2016 Commons Chamber

[The Prime Minister]

My father, whom I miss every day, was an inveterate gambler. I remember nothing so much as sitting with him on a Saturday and watching him bet on race after race. While I enjoyed all that, I have tried to stick away from it myself, so I am not running a book. All I know is that I will do the right thing for this country, and the right thing for this country is to remain in a reformed EU.

[James Cartlidge (South Suffolk) (Con)]

Moody’s has today warned that it could cut Britain’s credit rating in the event of Brexit. It justifies that thus:

“Unless the UK managed to negotiate a new trade arrangement with the EU that preserves at least some of the trade benefits of EU membership, the UK’s exports would suffer. It would likely lead to a prolonged period of uncertainty, which would negatively affect investment.”

Is that project fear or a warning from the real world?

[The Prime Minister]

There are important economic consequences that we need to lay out so that people can see the potential downsides of what I think is a leap in the dark. We have set out a lot this afternoon about how long it would take to put trade deals in place and about how damaging that could be. It would be irresponsible not to be put in front of the British people the consequences of the outcomes.