Leaving the EU: Economic Impact of Proposed Deal Debate
Full Debate: Read Full DebateDepartment: HM Treasury
Stephen Doughty
Main Page: Stephen Doughty (Labour (Co-op) - Cardiff South and Penarth)Department Debates - View all Stephen Doughty's debates with the HM Treasury
Leaving the EU: Economic Impact of Proposed Deal
Stephen Doughty Excerpts(5 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Mel Stride
I sincerely thank my right hon. Friend for his extremely kind words. As ever, he is too modest. It was not my effort alone that secured the result that we achieved for those very important veterans in Cyprus—he raised the issue, brought it to my attention in Committee, and worked hard with me to make sure that we achieved the right, just and desired outcome.
Stephen Doughty (Cardiff South and Penarth) (Lab/Co-op)
Of course, the economic effects are already being felt. I have spoken to businesses in my constituency that have gone from profit to loss and others that have cut investment. This week I spoke to Cardiff University, which cited Brexit as a factor in the job losses that it has proposed. This is very serious, so does the Minister accept that we need to get serious? Ministers know that no deal would be a catastrophe. They know that every single Brexit would lead to a worse economic outcome for this country, so do they accept that the issue needs to go back to the people so that they can decide, based on the facts?
Mel Stride
If I may summarise, the hon. Gentleman makes the point that uncertainty is not good for business. He is entirely right, and that is all the more reason why we should get behind the deal, and get it sorted. We would then have an implementation period in which nothing would change until the end of 2020. The businesses in the hon. Gentleman’s constituency to which he referred could then begin to increase employment and invest with confidence.