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European Union (Withdrawal) Acts

Part of Prime Minister’s Statement – in the House of Commons at 2:13 pm on 19th October 2019.

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Photo of Rebecca Long-Bailey Rebecca Long-Bailey Shadow Secretary of State for Business, Energy and Industrial Strategy, Member, Labour Party National Executive Committee 2:13 pm, 19th October 2019

Please forgive me for not giving way; we are extremely pushed for time.

What does this deal mean for business? I will put it simply; for business, for our industries and for our manufacturing, it reduces access to the market of our biggest trading partner, threatening jobs up and down our country at a time when more investment is needed, not less. There is no economic impact assessment and no accompanying legal advice—funny that; I wonder why. According to The Guardian, Britain is on course to sacrifice as much as £130 billion in lost GDP growth over the next 15 years if the Brexit deal goes ahead.

Industry has been clear that it needs market access. It needs a customs union to keep vital supply chains flowing, but this deal sells them out. With no barrier-free access and no customs union, it puts the fantasy of chasing damaging trade deals with Donald Trump over the needs of our country. Again, the House does not have to take my word for it. Make UK, which represents British manufacturing, is clear that

“commitments to the closest possible trading relationship in goods have gone” and that the deal

“will add cost and bureaucracy and our companies will face a lack of clarity inhibiting investment and planning.”

Even the CBI added that the

“deal remains inadequate on services” and that it has

“serious concerns about the direction of the future UK-EU relationship.”

This is a bad deal for industry, a bad deal for manufacturing and, more importantly, a bad deal for jobs.

Let us look at what the deal will mean for the environment. Let us see what green groups are saying about it. Greener UK, for example, has raised—[Interruption.]