Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Exiting the European Union
Vince Cable
Main Page: Vince Cable (Liberal Democrat - Twickenham)Department Debates - View all Vince Cable's debates with the Department for Exiting the European Union
(7 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Walker
My hon. Friend raises an important point. I assure him that we have been meeting regularly with the Scotland Office and with DEFRA colleagues to discuss these issues, which have also been discussed in the Joint Ministerial Committee (EU Negotiations) in relation to important principles that were agreed about where shared frameworks might be required and where they will not.
Sir Vince Cable (Twickenham) (LD)
Scotland is a significant beneficiary of the European Investment Bank. If Britain leaves the EIB after Brexit, will the Government replace it with a British investment bank, with equivalent resources?
Mr Walker
As the right hon. Gentleman will know, the UK is a significant shareholder in the European Investment Bank, as well as a significant beneficiary of its lending. As the Chancellor set out in his Mansion House speech, we will look at the opportunities for co-operation in this area when we come to the talks on the future relationship, but the UK will of course take whatever steps are necessary in the event that there is no deal. That is not our central scenario; we are working towards a constructive deal for both sides.