EU Membership: Economic Benefits

Victoria Prentis Excerpts

Wednesday 15th June 2016 Commons Chamber

[Robert Neill]

I have been generous in giving way so far and I am conscious that others want to speak. I hope my hon. Friend will forgive me, because I know he will speak later.

Given the position that we have of that double success for the City of London, it would be a tragedy—a criminal thing, virtually—for this country to turn away. The financial services industry, as well as being a key UK asset and part of our national strategic interest, is not just about people in the City of London and those working in banks, insurance and offices. A successful financial services sector affects every family in this country. It affects every pension fund. It affects the pensions of millions of people, whatever their income situation or previous position in life. To put that at risk is not to damage just that industry, but to damage the whole population of this country. It damages the revenue stream, as my hon. Friend the Member for Cheltenham (Alex Chalk) just said, that underpins our public services. I am sorry to have to say this to some of my friends who I know genuinely believe otherwise, but it will be a profoundly unpatriotic thing to leave the EU.

[Victoria Prentis (Banbury) (Con)]

Will my hon. Friend give way?

[Robert Neill]

One last time.

[Victoria Prentis]

My hon. Friend is making a passionate speech about various areas of the economy. Has he considered how leaving the EU might affect manufacturing industries, including a company in my constituency that has today told me that it has written to its employees to implore them to vote to remain?