Review of powers in consequence of EU withdrawal

Part of Finance (No. 3) Bill – in the House of Commons at 5:15 pm on 8th January 2019.

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Photo of Kenneth Clarke Kenneth Clarke Father of the House of Commons 5:15 pm, 8th January 2019

With respect, it is quite right to concede that some of the fears being raised about no deal are grossly exaggerated, but the problems are quite real enough. If we leave with no deal, we will be the only developed country in the world that has no trade agreement at all with anybody and that is having to fall back on WTO rules, which are made to sound marvellous by the Brexiteers but which do not actually amount to very much. We will also be erecting new barriers to trade and investment around the borders of the United Kingdom, including along the Irish border, and that is bound to disadvantage our economy very seriously indeed.