No-deal Brexit: Short Positions against the Pound Debate

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Department: HM Treasury

No-deal Brexit: Short Positions against the Pound

Michael Tomlinson Excerpts
Monday 30th September 2019

(5 years, 1 month ago)

Commons Chamber
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John Bercow Portrait Mr Speaker
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I gently remind the House that the thrust of the urgent question relates to short positions being taken against the pound. This is not a general, Second Reading-style debate on the merits or demerits of a no-deal Brexit, of which the House has treated before and doubtless will do so again. It is on the specific matter to which I have just referred, and I feel sure that our hon. Friend from the west country is a noted authority on this matter, on which he is about to expatiate.

Michael Tomlinson Portrait Michael Tomlinson (Mid Dorset and North Poole) (Con)
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Thank you Mr Speaker, you are very kind. It is wonderful to see the Minister in his place, oozing calm and authority, in sharp contrast to the stoking of fears and division on the Opposition Benches. We have just heard about the risk to the economy, but the real risk to the economy is not Brexit nor yet a no-deal Brexit. The real risk is letting the shadow Chancellor anywhere near No. 11 or the Treasury.

Simon Clarke Portrait Mr Clarke
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I thank my hon. Friend for those kind remarks. It is clear that that would be the ultimate vote of no confidence in the British economy.