European Council

Wes Streeting Excerpts

Monday 22nd February 2016 Commons Chamber

[The Prime Minister]

We introduced a sovereignty clause in the referendum provisions of the European Union Act 2011, and I am looking at enhancing that and adding it to the proposals that will come forward.

[Wes Streeting (Ilford North) (Lab)]

Given that so many of my constituents work in the City of London, I welcome what the Prime Minister has said about making sure that we have a strong global financial centre that enjoys all the benefits of access to the largest single market. Given that, may I offer the Prime Minister a once-in-a-Parliament opportunity to campaign in my constituency on this issue? Given that there are those in Frankfurt and Dublin who would love to get their hands on Britain’s financial services, and that the Mayor of London has given up his day job to think about his next job, may I also ask the Prime Minister to send a very clear message to my constituents and all Londoners that London is stronger in Europe?

[The Prime Minister]

I would be delighted to come to the hon. Gentleman’s constituency and to case the joint for the future. He is right. It is interesting that Chris Cummings, the chief executive of TheCityUK, has said:

“The City is Europe’s financial centre and the UK’s membership of the European Union (EU) is of strategic importance to the financial and related professional services industry. Business opinion both within and beyond our industry is that continuing membership is important to Britain’s competitiveness”.

Business organisations covering finance, insurance, manufacturing and engineering are all making their views clear, and I think we should listen to them.