Leaving the EU: Economic Impact of Proposed Deal Debate
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Vince Cable
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Leaving the EU: Economic Impact of Proposed Deal
Vince Cable Excerpts(5 years, 9 months ago)
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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.
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Mel Stride
Tariff policy in the event of no deal is clearly something that we are heavily engaged with. My right hon. Friend rightly identifies the aspects or elements of tariffs that relate to protecting domestic producers, and that of course will be a very important part of the considerations that we are undertaking at the moment. We will come to the House in due course with the details of those tariffs.
Sir Vince Cable (Twickenham) (LD)
Brexit uncertainty is one of several factors contributing to the crisis in the car industry, which previous Governments—Conservative, Labour and coalition—did so much to promote. What assurances have the Government had from Toyota, BMW and Vauxhall that they are not going to follow the pattern of disinvestment that we are now seeing?
Mel Stride
I think the right hon. Gentleman’s question would be most appropriately directed to the Department for Business, Energy and Industrial Strategy as to the specifics of the companies that he listed. Honda, a company that has already been mentioned in this respect, has made it clear that its decision to leave the United Kingdom is not a consequence of Brexit; it is more to do with international changes around cars and the position of diesel, and of course the deal that Japan has struck on zero tariffs in a few years’ time for exports from Japan to the European Union.