Leaving the EU: Negotiations

Debate between Vince Cable and Caroline Lucas

Tuesday 10th July 2018 Commons Chamber

[Sir Vince Cable]

My right hon. Friend is absolutely right. We could of course have had a trade deal with India already under the auspices of the European Union, as we do with South Korea, Canada and various other countries. The country that blocked the deal was the UK, because increased services trade would involve increasing numbers of people crossing over to the UK.

I was struck by the comment by one of the more strongly pro-Brexit Conservative MPs—the hon. Member for Gainsborough (Sir Edward Leigh)—when he was being critical of the Government yesterday. If I am correct, he said that he had no objection to cherry-picking, but that the Government are picking “the wrong cherry”. Actually, services are fundamental to our trade, and the Government have put us in a very difficult position.

The question now is: what should be done? The first step is for those on both sides of the House who believe that we should maximise the closeness of the economic relationship through the customs union and the single market—there are people of a similar persuasion in all parties—to try to achieve that. The right hon. Member for Haltemprice and Howden says we have a customs union already, which is exaggerating, but we can certainly converge on having a common approach. Of course, the nearer we get, the more the question arises of why on earth Brexit is happening at all. That leads us back to the question we started with about the need for the public to have a say on the final deal.

[Caroline Lucas (Brighton, Pavilion) (Green)]

The right hon. Gentleman is making a compelling case. I imagine that, like me, he gets a steady trickle of emails from Brexit supporters, all of whom say that the 17.4 million people who voted leave in June 2016 knew exactly what they were voting for, because the right hon. Member for Uxbridge and South Ruislip (Boris Johnson) had spelled it out for them. Yet the former Foreign Secretary now only uses four-letter words to describe the proposed deal with the EU, and is so appalled by it that he has resigned from high office to spend more time with his photographer. Does the right hon. Gentleman agree with me that no one knows how many of the 17.4 million now support the Prime Minister’s approach, and the only way to find out is precisely to have a people’s vote?

[Sir Vince Cable]

That is exactly right, and the current numbers suggest that a substantial majority believe that there should be a vote on the final deal.

If the Government were totally rational, they would see the arguments for doing so from their own point of view. The Prime Minister could say, “I’ve done the best I can to achieve a deal. It’s obviously difficult with the Conservative party in disarray, but I’ve done the best I can. I have negotiated hard with the European Union”—we would all believe that, because she is obviously conscientious—“and this is what I’ve got. Do you, the public, who voted for this originally, want to accept it, or would you rather stay where are and be in the European economic union?” That would be a perfectly honourable and sensible way for her to proceed politically, and it is constitutionally sensible. It reflects the fact that conditions have changed enormously since the original vote. I strongly recommend that approach to the House, and I look forward to hearing contributions from Members on both sides of the House in this debate on the Chequers statement.

Oral Answers to Questions

Debate between Vince Cable and Caroline Lucas

Thursday 5th December 2013 Commons Chamber

[Caroline Lucas (Brighton, Pavilion) (Green)]

T9. The Secretary of State will be aware of the mechanism in the transatlantic trade and investment partnership that will allow global corporations to sue Governments before secretive arbitration panels that bypass domestic courts. As his own Department’s research says that nothing would insulate the UK from becoming subject to costly and controversial arbitration claims in the future, will he work to ensure that investor-to-state dispute settlements are removed from that agreement?

[Vince Cable]

The overall context is that the transatlantic agreement between the European Union and the United States, if it materialises, would be of enormous economic benefit. We realise that there are some tricky negotiating issues, and the hon. Lady has highlighted one of them. We will try to ensure that the interests of our economy are properly protected.

Royal Mail

Debate between Vince Cable and Caroline Lucas

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

Yes, it is tied because of the limitations on borrowing possibilities and what many people perceive to be the potential for political intervention. The companies that the hon. Gentleman mentioned—in Austria, Belgium and Germany—all of which are privatised, are indeed highly profitable, and they also invest heavily. They are making deep inroads into the international logistics market and it is time Royal Mail was competing successfully with them.

[Caroline Lucas (Brighton, Pavilion) (Green)]

As the Secretary of State has said, Royal Mail’s performance has gone from strength to strength, so why will the Government not commit to building on what has been achieved and keep it in public ownership, where we can guarantee that future profits will be invested in what is good for Britain, rather than what is good for a few select shareholders?

[Vince Cable]

We are building on the success of the modernisation of the last few years, and I pay tribute to the management and the work force who have made that possible. The one factor that the hon. Lady’s model does not deal with is how a company of that kind raises substantial amounts of capital when it would be in direct competition with schools, hospitals and other bodies that require public sector investment. That is the big inhibition at the moment.

Green Investment Bank

Debate between Vince Cable and Caroline Lucas

Tuesday 24th May 2011 Commons Chamber

[Vince Cable]

That may well be one of the ways in which the green investment bank will be involved in the longer run—once it is securely established. Large numbers of people will no doubt want to invest, through individual savings accounts for example, and that could well be a product that the bank eventually produces. We certainly do not rule that out, and we want to encourage creativity.

[Caroline Lucas (Brighton, Pavilion) (Green)]

Given that the green investment bank is being set up to promote new green technology, can the Secretary of State confirm that it will not be used to support nuclear, because nuclear is not new, because many of us do not believe it is green, and above all, because such support would clearly constitute a public subsidy?

[Vince Cable]

The initial analysis suggests that nuclear power would not be an appropriate sector for the bank’s investment, but in the very long run we are not ruling out particular possibilities, including nuclear. It is not part of the bank’s immediate planning, however.

Oral Answers to Questions

Debate between Vince Cable and Caroline Lucas

Thursday 18th November 2010 Commons Chamber

[Caroline Lucas (Brighton, Pavilion) (Green)]

T1. If he will make a statement on his departmental responsibilities.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

My Department has an important role in delivering growth and the coalition’s commitment to building a new and more responsible economic model while rebalancing the economy and bringing enterprise, manufacturing, training, learning and research closer together.

[Caroline Lucas]

As the Lib-Dem Treasury spokesman in the last Parliament, the Secretary of State strongly criticised the Labour Government’s handling of the Lloyds TSB merger with HBOS, saying that the Lloyds shareholders had been sold a lemon. What does he say now to the 800,000 small Lloyds shareholders who have lost up to seven eighths of their investment, some of whom I have met in my constituency? What support will he give those who are now trying to win compensation?

[Vince Cable]

First, I congratulate the hon. Lady, as I believe that last night she received the newcomer of the year award from The Spectator. On her specific question, she will be aware that the Chancellor of the Exchequer and I established the banking commission specifically to consider the structure of banking and how competition can be improved. It will undoubtedly take into account the particular position of that bank.