UK Economy: Post-Referendum Assessment

Tom Brake Excerpts

Monday 23rd May 2016 Commons Chamber

[Mr Gauke]

My hon. Friend makes a good point. Let me put it this way: the UK benefits from being an open trading nation. Membership of the single market helps us to pursue the approach of having an open trading economy. That is a very positive thing, one I hope the British people will ensure we continue to have.

[Tom Brake (Carshalton and Wallington) (LD)]

Is the Minister as concerned as I am that the leave campaign dismisses as a conspiracy the views of the Treasury, the International Monetary Fund, the World Bank, the OECD, the CBI, the Bank of England, the Office for Budget Responsibility and the London School of Economics? Does he hope that in June people will vote with their hearts and their heads to stay in the EU, which, with NATO, has provided peace and prosperity for the longest period since antiquity, according to the outgoing London Mayor?

[Mr Gauke]

I confess that I have not seen that particular quote, but I look forward to digging it out.

[Tom Brake]

It is from Boris Johnson’s “The Churchill Factor”.

[Mr Gauke]

Actually, I think I have seen it—the right hon. Gentleman reminds me.

There is an overwhelming consensus on the economic benefits of membership of the EU, and I hope that the British people, when they make their assessment, be it with their hearts or their heads, carefully consider the economic consequences of their decision. It is a very important decision that will have an impact not just for a year or two—the focus of this report—but for many years ahead.