Exiting the EU: Costs
Debate between Pat McFadden and Elizabeth Truss(7 years ago)
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Elizabeth Truss
It is because we need to make sure that the European Union is aware we have alternatives that we are preparing not only for our preferred option of a transition period plus a long-term economic agreement, but for a no-deal scenario. The Opposition want to give that option away, so we would not be able to have that discussion with the European Union.
Mr Pat McFadden (Wolverhampton South East) (Lab)
There are two salient features about the news that is emerging. The first is that this is the opposite of what was promised during the referendum. We were promised £350 million a week more, and now the Government are set to pay up to £50 billion, when our constituents urgently need money for health, housing, policing and much more. But, secondly, what is it that we are paying for? Other countries pay significant sums to get into the single market; we are lining up to pay up to £50 billion to leave the single market. Is not the tragedy that these huge sums are going to pay for a worse deal than we have at present? That is hardly strategic genius.
Elizabeth Truss
It is absolutely right that the UK honours its commitments in the spirit of our future partnership, but as I have said before, nothing is agreed until everything is agreed. We will expect to make progress and secure that long-term economic partnership, which will be to the benefit of UK citizens.