Leaving the Eu: Economic Impact of Proposed Deal

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

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Photo of Kenneth Clarke Kenneth Clarke Father of the House of Commons 12:44, 20 February 2019

It is perfectly obvious to all those involved in the negotiations, both the British negotiators and the EU negotiators, that if Britain were to leave the EU with no deal, it would be disastrous for the British economy in the medium to long term and extremely damaging to the economies of many EU countries, particularly those nearest the UK. Does the Minister accept that it is rather silly to think that it is useful in these negotiations to take up the simplistic view that we must pretend we are threatening to leave with no deal to improve our bargaining position? Will he reassure me that the negotiations are proceeding on the basis that both sides know that they do not want no deal and that they are therefore trying to limit the damaging consequences of risking that? What we should really pursue is retaining the benefits of the customs union and the single market and continued free trade with our largest customer in the world, as it will always be, as is being urged on us by every industrial leader in this country.