Budget Resolutions

Debate between Kirsty Blackman and Ed Davey

Tuesday 30th October 2018 Commons Chamber

[Kirsty Blackman (Aberdeen North) (SNP)]

It is an honour to speak for the Scottish National party on the second day of the 2018 Budget debate.

Ten years ago last month, Lehman Brothers collapsed. Excessive risk-taking by financial institutions created an international banking crisis, and a global downturn followed. Since then, people and families across the UK have had to pay for the fall-out. There has been a decade of wage stagnation, a decade of cuts and a decade of the most vulnerable in our society being hit the hardest by Tory austerity. Looking forward, we are staring into the abyss that is Brexit. Mark Carney says that Brexit has already cost householders an average of £900, and the Fraser of Allander Institute estimates that leaving the single market and customs union would cost 80,000 Scottish jobs. After a decade of austerity, households cannot afford to lose £900 each, and they certainly cannot afford a Tory Brexit.

The reality is that the people of Scotland are badly served by Westminster. We did not vote for a Tory Government and we did not vote for Brexit. I cannot think of a time in the past when a country has committed such a foreseeable act of economic self-harm. The Chancellor does not believe that we will be better off after Brexit. Even the Prime Minister does not believe that we will be better off after Brexit. We were promised £350 million pounds a week for public services. We will not be bought off with a commemorative 50p coin.

[Sir Edward Davey]

The hon. Lady is making an excellent start to her speech. Does she agree that, after a decade of Lehman austerity, we could be facing a decade of Brexit austerity?

[Kirsty Blackman]

I absolutely agree. An economic catastrophe is coming down the line as a result of Brexit. It does not matter what kind of Brexit there is; any Brexit is bad for the economy. Staying in the EU is the best possible option for the economy. If we cannot stay in the EU, staying in the single market and the customs union is the second best option.