Oral Answers to Questions Debate
Full Debate: Read Full DebateJeff Smith
Main Page: Jeff Smith (Labour - Manchester Withington)Department Debates - View all Jeff Smith's debates with the Department for Exiting the European Union
(7 years ago)
Commons ChamberAs the right hon. Gentleman will know, the UK is a significant shareholder in the European Investment Bank, as well as a significant beneficiary of its lending. As the Chancellor set out in his Mansion House speech, we will look at the opportunities for co-operation in this area when we come to the talks on the future relationship, but the UK will of course take whatever steps are necessary in the event that there is no deal. That is not our central scenario; we are working towards a constructive deal for both sides.
A future partnership between the UK and the EU is in the interests of both sides and I am confident that we will secure a good deal. A responsible Government should prepare for all potential outcomes, and we are undertaking work across a range of scenarios. We will share as much information as possible, but we will not walk into this negotiation risking our negotiating position.
The Government are hiding the true facts about Brexit from the British people. Using this information, the Government are making contingency plans for a failure to make a trade deal, but how can businesses, public services and devolved Administrations make their plans if they do not have the same information?
The hon. Gentleman mentions “true facts”, but there seems to be some misunderstanding about what the sectoral analysis is. It is not a series of 50-plus quantitative forecasts and, even if it were, forecasts could not be said to represent true facts. We have made our position clear and we will continue as we have set out.
This is similar to the question put to me earlier about Northern Ireland, and I will make a final point to add to the one I made earlier about the Migration Advisory Committee looking at this. Throughout the past year I have said time and again that taking back control of migration does not mean a sudden stop on migration or migration being managed in such a way that damages the economy. So my hon. Friend can take comfort from that.
I was not here yesterday; by the sounds of it I missed a good debate, and one that would have suited my character, but there we are. I have already spoken to the Chairman of the Select Committee, the right hon. Member for Leeds Central (Hilary Benn)—he sends his apologies for not being present today; I think he has to be in Leeds—and I am organising discussions with him about how we handle the confidentiality of the documentation that we hand over. I reiterate the point made by the Under-Secretary of State for Exiting the European Union, my hon. Friend the Member for Worcester (Mr Walker), which is that these documents are not some sort of grand plan; they are data about the regulations and markets of individual sectors, which inform our negotiation. Of course we will be as open as we can be with the Select Committee—I fully intend to be.