Oral Answers to Questions

Peter Bone Excerpts

Wednesday 23rd March 2016 Commons Chamber

[The Prime Minister]

Of course, and I will tell the hon. Gentleman why. The Chancellor is the one who, as part of a team, has delivered the fastest growing economy in the G7. We have 2.4 million more people in work; inflation that is virtually zero; wages that are growing; and an economy that is getting stronger.

[Mr Peter Bone (Wellingborough) (Con)]

Q8. The House of Commons Library confirms that this year our net contribution to the EU will increase by more than £2.6 billion—I think it is actually £2,627 million. Should that money be spent on supporting people in Bulgaria and Romania, or should it be spent in this country, supporting our vulnerable and disabled people?

[The Prime Minister]

I say to my hon. Friend that our net contribution accounts for just over one penny in every pound paid in taxes, so as we enter this vital debate we have to work out whether we believe that that sort of investment—one penny out of every pound—is worth the jobs and the investment, the growth and the security, and the safety and the solidarity that we get through working with our partners. I will be on the side that thinks it is, and clearly he will be on the side that thinks it is not, but we should have a polite and reasonable debate as we go through this. What I will say, which I am sure he will welcome, is that we have limited our contributions to the EU budget because we set an overall EU budget that is falling over the next six years. The reason our contribution varies is that part of it is determined by the success of a country’s economy and—to return to the questions I have just been answering—because our economy has been growing faster than others in Europe, we will make a slightly larger contribution than we otherwise would.