European Union (Referendum) Bill
Debate between William Bain and Charles Walker(10 years, 12 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Bain
My hon. Friend is right. The prospect of having to renegotiate 130 separate free trade agreements with partners across the globe is a truly desperate and scary one for business and exporters in this country. The reason that we need amendments 68 and 70 and new schedule 2 is to make sure that the Government address systematically the crucial points that the CBI made in its study this week.
What are the implications of a no vote? What are the implications of leaving? The CBI said this week that going it alone as a sole country within the World Trade Organisation, without the collective strength that negotiating power within the EU gives us, would see us lose influence and trade. The CBI said that the Norway option of leaving the European Union but remaining in the European economic area—although, as we know, Norway is a net contributor to the EU budget—was a weaker option, and that the Swiss option of pick-and-choose bilateral agreements was also a weaker option for the United Kingdom. Moreover, it said that the Turkish option of simply having a customs union with the European Union was the worst of all the halfway alternatives.
Mr Charles Walker (Broxbourne) (Con)
The hon. Gentleman is quoting the CBI. Is this the same CBI that said that the UK would face economic ruination if it did not join the euro?