Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

John McNally Excerpts
Tuesday 3rd July 2018

(6 years, 4 months ago)

Commons Chamber
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The Chancellor of the Exchequer was asked—
John McNally Portrait John Mc Nally (Falkirk) (SNP)
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1. What recent assessment he has made of the financial implications for Scotland of the UK leaving the EU customs union.

Elizabeth Truss Portrait The Chief Secretary to the Treasury (Elizabeth Truss)
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Scotland exports almost £30 billion of goods and services, including its iconic whisky, and we want to make sure we have as frictionless trade as possible with the EU as well as the ability to strike independent trade deals with the rest of the world.

John McNally Portrait John Mc Nally
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Alexander Dennis is a strong, world-leading bus-building company employing 1,000 people in my constituency, but its chief executive officer, Colin Robertson, has expressed serious concerns about a hike in costs within the supply chain should the UK leave the customs union. Given that the Chancellor has so far failed to stop the Prime Minister’s hard Brexit, what are we to expect from him at Friday’s Cabinet showdown on Brexit—action or evasion?

Elizabeth Truss Portrait Elizabeth Truss
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Of course we want trade with the EU to be as frictionless as possible, but I point out to the hon. Gentleman that the UK market is worth £46 billion to the Scottish economy, and his party wants to leave that market.