Leaving the EU: Economic Analysis Debate

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Department: HM Treasury

Leaving the EU: Economic Analysis

Jim McMahon Excerpts
Wednesday 28th November 2018

(6 years ago)

Commons Chamber
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Mel Stride Portrait Mel Stride
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I am afraid that the hon. Gentleman’s question is predicated on a train that has left the station, because we are leaving the European Union on 29 March—we are going to honour the will of the British people as expressed in June 2016—but I can reassure him that of the various scenarios that these papers review, this Government’s hard-won deal with the European Union is by far the best of all the alternatives for his constituents.

Jim McMahon Portrait Jim McMahon (Oldham West and Royton) (Lab/Co-op)
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I should say, with a background in local government, that had our cabinet been expected to make such an important decision without any financial information and without the legal advice being made available to the decision makers, the council would be in special measures by now. Let me just put the Government on warning: Members of this House will not accept this as fulfilling their responsibility when casting such important decisions. Does the Treasury accept that part of the reason why the economic shock will be felt in our regions is the chronic under-investment and the stubbornness, through austerity, in hitting those economies right at the heart of their communities?

Mel Stride Portrait Mel Stride
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No. If the House agrees to this deal, and we proceed to get a deal with the European Union that does all the things that I have many times in response to this urgent question outlined to Members, it will provide confidence. It will provide further investment. It will support jobs. It will seek growth. It will see unemployment, which is already at a 45-year low, nice and low, where we want it to be. So I would urge the hon. Gentleman to support the deal and to do so on behalf of his constituents.