European Union Referendum Bill

Debate between Peter Kyle and Pat McFadden

Tuesday 9th June 2015 Commons Chamber

[Mr McFadden]

No, I want to make progress.

No one is arguing that the European Union is perfect, but it is our major trading partner. It is the destination for more than 40% of our exports in goods and the source of about half our inward investment. Our position as gateway to the single market helps attract inward investment from outside the European Union, and the EU has helped to keep the peace in Europe for decades. It would be hugely reckless for us to take those real achievements for granted.

[Peter Kyle (Hove) (Lab)]

Does my right hon. Friend agree that the issue of business and Europe is progressive, because bigger businesses will have the resources to relocate if they do not like the decision to pull out of Europe, but smaller ones will not and will be stuck here?

[Mr McFadden]

For businesses of all sizes, big and small, it makes no sense for us to put barriers and risks between them and their customers that do not exist at present.

As the debate unfolds, those who want to take us out of the EU will have to explain what it would mean for jobs, trade, exports and our collective security. On what terms will businesses want access to the single market? How much would they pay? What rules, including free movement, will they have to stick by? Is the strategy to walk away from the decision-making process and still accept many of the rules? Those who advocate Brexit in the name of sovereignty will have to explain why leaving the collective institutions where many of the rules of our economy are decided, and where we are currently represented, would enhance our power and influence. They will have to show why the major markets in the world outside the European Union would view us as a more attractive proposition if we walked away from where the rules are decided and were outside rather than in.