European Council

Matt Western Excerpts

Monday 23rd October 2017 Commons Chamber

[The Prime Minister]

I bow to my hon. Friend’s legal knowledge on this issue, but I think he is absolutely right. As my right hon. Friend the Member for Chingford and Woodford Green (Mr Duncan Smith) indicated, the issue of an implementation period is about practical arrangements to reach the future partnership, and you do not know what those practical arrangements are until you know what that future partnership is.

[Matt Western (Warwick and Leamington) (Lab)]

Last week, two significant announcements were made. First, we heard from Peugeot Citroën that it preferred to reduce the number of jobs here in the UK and maintain its investment and job levels in mainland Europe. We also heard from Lloyd Blankfein, who announced that he, like many other business leaders, would be spending more time in Europe. Do those two announcements concern the Prime Minister?

[The Prime Minister]

We are of course working with business to ensure that we can get the right arrangement for our future trade relationship and for the implementation period, to give business the certainty it has asked for. But I am optimistic, not just about that trade relationship, but about the other trade agreements we can negotiate around the world. I am also optimistic about the opportunities for the economy and for firms here in the United Kingdom, not least because of the modern industrial strategy that this Government are putting in place.