EU: Reform — Question

Part of the debate – in the House of Lords at 11:21 am on 16th May 2013.

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Photo of Lord Wallace of Saltaire Lord Wallace of Saltaire Lords Spokesperson (Cabinet Office), Lord in Waiting (HM Household) (Whip) 11:21 am, 16th May 2013

My Lords, I am fascinated by the way in which the noble Lord approaches some very complicated international issues. I am struck by the extent to which European Union regulation and global regulation go together. While the UK is inside the EU, we are playing a major part in negotiating global regulation, for example on tax and on how the global framework for digital regulation will evolve. If we were to leave the European Union, we would lose our influence over the evolution of global regulation—unless the noble Lord is such a free trader that he believes that we should have no global regulation at all.