European Council

Simon Hughes Excerpts

Monday 5th March 2012 Commons Chamber

[The Prime Minister]

I agree with the hon. Gentleman on this point: 40% of our exports go to eurozone countries and we want those countries to recover. We have to accept, however, that doing that while dealing with fiscal deficits is enormously challenging. On Greece, those of us who are sceptical about the euro and who do not want to join it must accept, whatever our views, that the Greeks have made their choice. That is the path that they want to pursue. Whatever our misgivings, we must allow them to make those decisions to make their economy more competitive within the eurozone.

[Simon Hughes (Bermondsey and Old Southwark) (LD)]

Given that the evidence from last week’s summit is that full participation in the EU is the best news for jobs and growth in this country and for all our neighbours, will the Prime Minister tell us the best estimate of the number of extra jobs that completion of the digital services and energy single markets will achieve by the end of this Parliament? Will he also reassure the House that we will lead the way in dealing with tax fraud and tax evasion at the next European summit in June?

[The Prime Minister]

We believe in dealing with tax fraud and tax evasion. That is vital. On the jobs effect of completing the energy and digital services single markets, I have given the GDP figures for how much it would add to the EU, but if the right hon. Gentleman would like, I could perhaps look at how many jobs that could convert into. It is worth noting, however, that the Commission’s forecast for growth this year is that Britain will grow faster than France, the EU and the euro area. Furthermore, according to International Monetary Fund figures, we will grow faster than France, Germany, Italy, Spain, the EU and the euro area this year and next year.