Leaving the Eu: Economic Impact of Proposed Deal

Part of the debate – in the House of Commons at 12:44 pm on 20th February 2019.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 12:44 pm, 20th February 2019

I thank Ian Blackford for his vociferous oration, but vociferous orations are no substitute for the facts. Let me remind him of some of the facts in respect of the points he made. He says that we have made no analysis of the impact of these arrangements on the United Kingdom economy, and that is simply not the case. The information we have come forward with is a robust analysis of the future outcomes of the four different scenarios that we consider in that analysis. He levels the charge that we are in some way treating the United Kingdom with contempt, and that is certainly not the case. The House has been very deeply preoccupied with matters of Brexit and the nature of how we might exit the European Union, and the Prime Minister has set out that there will be further debate this time next week to be followed, in the event that we do not pass a meaningful vote, with another amendable motion to be considered by the House.

The right hon. Gentleman also says that the deal, as he terms it, would have a negative impact on the UK economy. The analysis clearly shows that under every single scenario it analyses it is better to have this deal than no deal or any of the alternatives. Finally, he decried the fact that we had not put forward a bespoke deal for analysis within our analysis, and that illustrates his lack of understanding of what the future political declaration is all about, which is a range of possible outcomes. That is entirely what the analysis models.