EU Exit Negotiations

Seema Malhotra Excerpts

Tuesday 5th September 2017 Commons Chamber

[Seema Malhotra (Feltham and Heston) (Lab/Co-op)]

The European Investment Bank is the EU’s not-for-profit, long-term lending institution, and it is symbolic of our commitment to each other’s progress. EIB funding in the UK for infrastructure spending, entrepreneurship and development has been worth €35 billion in the past six years. What specific discussions has the Secretary of State had on the EIB? Is he committed to doing all he can in seeking for the UK to remain a member of the EIB after we leave the EU, or are the Government planning for us to leave the EIB? Can he guarantee that withdrawing from it will not have a negative impact on investment in the UK and on our economy?

[Mr Davis]

What the hon. Lady fails to say is that the British economy has actually been more successful than most others in obtaining investment from that source. So far, the negotiations have only been about the departure arrangements—what would happen in the event of a rift—but when we get to the point of talking about the ongoing relationship, I think we will be looking to maintain that ongoing relationship.