Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 6th November 2018.

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Photo of John Martin McDonnell John Martin McDonnell Shadow Chancellor of the Exchequer 12:00 am, 6th November 2018

There are reports that the Cabinet has been briefed on a possible deal with the EU that includes a customs union that can be ended through a review mechanism at any stage in the future. So after two years of uncertainty, of business holding back investment and of jobs relocated abroad, we are now presented with a fudge that gives no guarantees on a long-term basis of our future trading relationship. Investment in our economy today is the lowest in the G7 and falling. If a customs union with our largest trading partner can be ripped up at any stage, how does the Chancellor expect businesses to have the confidence to bring forward the long-term investment needed to support our economy?