EU Membership: Economic Benefits

Debate between Steve Reed and Chris Stephens

Wednesday 15th June 2016 Commons Chamber

[Mr Reed]

That is absolutely true. I am sure my hon. Friend is doing as much as she can in her constituency, and I am going to be doing as much as I can in mine.

We would become weaker, not more powerful, if we left the EU. We would lose control over our destiny, not gain it. The Governor of the Bank of England has warned that a vote to leave the EU could trigger a recession, and nine out of 10 economists agree with him that Brexit would damage the economy. A vote to leave next Thursday would be the first time a country had voluntarily chosen to throw its economy into recession, and that would mean more job losses, lower tax revenues, a growing deficit, more cuts in public services like health and education, rising interest rates to prop up the pound and, because of that, higher mortgages. And it is not the wealthy élite that will suffer; it is ordinary people in places like Croydon North.

Immigration has helped London’s economy to grow, and it has benefited Croydon immensely. Where there are pressures because of immigration, like housing or the NHS, those are not the fault of immigrants, who put in more than they take out; they are the fault of a Tory Government who are underfunding our health service and selling off social housing. We cannot allow immigrants to be scapegoated for the failures of this Conservative Government.

Too many people in Croydon work long hours for low pay in insecure jobs. Their lives would become harder still without the employment protection that comes from our membership of the EU. Pro-Brexit Tories have already made it clear that they cannot wait to leave the EU so that they can cut workers’ rights in half. That is exactly what one of them has said they want to do. They want to remove rights for part-time workers and parents, increase working hours, and reduce paid leave. It was the European social chapter that triggered the Tory revolt on Europe, not because they want to protect British workers, but because they want to exploit British workers.

[Chris Stephens]

Is the hon. Gentleman aware of the independent legal opinion of Michael Ford, QC, who has said that in the event of a Tory Brexit, the damage would go much further and affect collective consultation, collective bargaining and the rights of part-time workers? He also believes that TUPE rights, which apply to outsourcing, would go.

[Mr Reed]

I was not aware of that particular opinion, but I am keen to learn more about it. It does not surprise me, however, because that is what many commentators are saying about the implications of a Tory Brexit for workers’ rights, jobs and the prosperity of ordinary people in this country.

For that reason, and all the others that we have heard this afternoon, I am confident that voters in Croydon North will vote next week to remain part of the European Union. The EU is an organisation that needs reform to make it more accountable, but we need to hear the concerns being expressed by people of good will and use them to make the EU work better. We cannot cut ourselves adrift and leave ourselves subject to an EU that we can no longer influence because we are isolated on the outside. Croydon is better off in Europe, and Britain is better off in Europe. I will be voting to remain next Thursday.