Economy and Jobs

Madeleine Moon Excerpts

Thursday 29th June 2017 Commons Chamber

[Mrs Madeleine Moon (Bridgend) (Lab)]

If we are talking about protecting jobs in our constituencies, the major employer in my constituency is Ford. I am absolutely determined to protect the jobs at Ford, but the Society of Motor Manufacturers and Traders has made it clear that retaining the benefits of the single market—and tariff-free and customs-free trade—is essential for those jobs. How will we have that if we carry on down the Brexit route laid before us so far?

[Robert Neill]

It happens that before I came into this House I contested the Dagenham constituency on two occasions. It rather fought back, but that experience gave me some knowledge of the motor industry. The hon. Lady is absolutely right, and perhaps I can link her point to mine.

In relation to both financial services and manufacturing, particularly when there are complicated and cross-national supply chains involved, it is critical that we have sensible transitional arrangements that are, wherever necessary, as lengthy as they need to be. Many financial services contracts, be they derivatives, insurance or legal contracts, of various kinds or with an international dimension, are written over a period of years. Those who enter into them must have the certainty that the legal obligations that they are undertaking can be enforced right the way through the life of those contracts, otherwise they will not invest in or enter into them.

This is not just about avoiding a cliff edge at the time; it is about not having a disincentive to invest in those areas, be it financial services or cross-border manufacturing, that are important to us. Indeed, manufacturing is still a great asset to this country, but our financial services sector is one in which we run a significant surplus with the European Union. Although we will undoubtedly develop opportunities in other markets, it remains a key sector for our activity and we must therefore keep the closest possible access.

I do not think that we can leave the European Union and remain in the single market, simply as a matter of law, but the Chancellor is right to say that we should seek to remain as close as we can. That is what we need to achieve. That has to be the primary task of Brexit, in a pragmatic, business-focused, non-ideological way. I hope that we can try to find a way forward across the House to achieve that, because although the fact of leaving the European Union was on the ballot paper, the nature of our leaving was not and neither was the nature of our future relationship. That is where this House can constructively and legitimately play a role in assisting Government to deliver on the basic requirement to respect the will of the British people. That is what we must do.

There are other things in the Queen’s Speech that I want to touch on briefly. I welcome the fact that work is still being done on courts reform and mental health. In my 25 years as a barrister and more recently, when I had the honour for the last two years to chair the Select Committee on Justice, it has struck me forcefully that mental health is overlooked. That has appalling consequences for individuals and their families and creates real pressures on our social services, our local authorities, our police forces and our criminal justice and prison systems. The Prime Minister has emphasised that, which I welcome.

I am sorry that there is no legislation to introduce a statutory purpose for prisons, or to place the role of the prisons ombudsman on a statutory basis, but there may be time for that in due course. I am glad to learn that the Lord Chancellor, whose appointment I welcome, is committed to proceeding with much of the rest of the prison reform agenda. We must take our opportunities. Let me also say, as an unashamed one nation Conservative, that we must do so with a sense of optimism that means believing in aspiration and helping to pull people up and improve their lot. That is what the Tory party is about—that is what the party that I joined is about—and that is why I want to see this Queen’s Speech deliver.