Informal European Council

Owen Smith Excerpts

Monday 6th February 2017 Commons Chamber

[The Prime Minister]

What I have been clear about with all the European leaders I have spoken to is that what we want when we leave the European Union is a good free trade arrangement with the member states of the European Union, in the form of the European Union. That is what we want, and that is what we will be working for.

[Owen Smith (Pontypridd) (Lab)]

The summit began with the German Chancellor admonishing the Prime Minister for the threat to undercut our European neighbours—the alternative economic model the Prime Minister talked about at Lancaster House. Could she confirm that she is still threatening to cut corporation tax in a race to the bottom, and could she tell us whether she is worried that the manner of the negotiations is damaging our reputation abroad?

[The Prime Minister]

What I set out in the Lancaster House speech were my 12 objectives for the negotiations. Within that was a new free trade agreement with the European Union and a belief that we have every opportunity and every possibility of getting the arrangement that we want for the future strength of the UK economy. What I also said very clearly was that we would not be wanting to sign up to a bad deal for the UK. I think the UK public want to hear from their Prime Minister that we are not willing to sign up to a bad deal, and will make every effort and expect to get the best deal possible for the United Kingdom.