Leaving the EU: Economic Analysis Debate

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Department: HM Treasury

Leaving the EU: Economic Analysis

Kirsty Blackman Excerpts
Wednesday 28th November 2018

(5 years, 5 months ago)

Commons Chamber
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Mel Stride Portrait Mel Stride
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My right hon. and learned Friend raises a number of points. The paper does not duck the question of the economic impact of the proposed deal compared to the status quo—the relationship with the European Union as it persists today. It makes it very clear that it will be detrimental in the economic sense. That is extremely clear. But I would put it to him that the deal is the best for the economy going forward as part of a deal that also delivers on several other things, some of which are entirely non-economic, such as control of our borders and free movement.

Kirsty Blackman Portrait Kirsty Blackman (Aberdeen North) (SNP)
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Before and after the EU referendum, the Scottish National party said that leaving the EU would damage our economy. In December 2016, almost two years ago, the Scottish Government produced “Scotland’s Place in Europe”, our compromise position that makes it clear that, second only to staying in the EU, remaining in the single market and the customs union would be the best thing for Scotland’s economy and for the economy of the UK as a whole. The Prime Minister’s deal will cost every person in Scotland £1,600 compared to staying in the EU. The economy will grow more slowly. The agri-food sector will be particularly affected across all scenarios. Trade deals that we might strike will only increase GDP by a potential 0.2%. Public sector net borrowing will be higher. In what alternative reality is this a good deal?

Mel Stride Portrait Mel Stride
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The hon. Lady is arguing to remain in the European Union. That would not respect the will of the British people as expressed in the referendum, the largest turnout in any electoral event in this country’s history. She talks about the imposition of trade barriers and the impact on the economy. There would be few impacts worse, I suggest, than Scotland becoming independent and having a customs barrier between ourselves and Scotland.