European Single Market

Lord Dykes Excerpts

Thursday 9th December 2010 Lords Chamber

[Baroness Wilcox]

We are at too early a stage to be able to answer questions of finance in this way. In the single market we have at our disposal an unparalleled resource that can provide a framework within which entrepreneurs and businesses can thrive. Therefore we must focus ruthlessly on the relaunch of the single market and ensure that it operates at its full capacity. Then, I think, it will be worth every penny.

[Lord Dykes]

Has my noble friend seen the latest pamphlets from Business for New Europe—I declare an interest as a strong supporter—in which it repeatedly shows the huge return to this country from the increasing success of the European single market? It is based, incidentally, on the excellent European principle of qualified majority voting. Will the Minister ensure that the Government are well informed on these matters and repeat endlessly to the British public—in view of the attitude of the British press—that the returns from the single market for British exporters and so on are gigantic in comparison with any budget contributions?

[Baroness Wilcox]

My Lords, yes, it is right. We do an enormous amount of business in the European Union. It is very good for us and we want to make sure that it works even better. There are areas which we are not quite so happy about; we would like to see a freer market right across the European Union so that some of the barriers that stand in the way of our businesses are removed, as they should be for any other country in the European Union. It is supposed to be a free market, and the more freely we can move our goods around, the better.