June European Council

Stephen Kinnock Excerpts

Monday 2nd July 2018 Commons Chamber

[The Prime Minister]

We stand absolutely ready to accelerate those negotiations, and of course the EU at its Council meeting last week also agreed it was necessary to accelerate them. It takes two sides to do this: we are ready; they should be, too.

[Stephen Kinnock (Aberavon) (Lab)]

According to the Society of Motor Manufacturers and Traders, investment in new models, equipment and facilities in the UK was just £347 million in the first half of the year compared with £647 million in the same period of 2017, and that is on top of foreign direct investment plummeting by 90% since 2016. This is not “Project Fear”; it is happening right here, right now, to our jobs and to our economy. Does the Prime Minister not recognise that if she were to commit to the European economic area, she would stop the rot?

[The Prime Minister]

If the hon. Gentleman looks at foreign direct investment in the United Kingdom, he will see that we remain the No. 1 destination for FDI in Europe.