Committee (2nd Day)

Part of European Union Referendum Bill – in the House of Lords at 6:00 pm on 2 November 2015.

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Photo of Lord Stoddart of Swindon Lord Stoddart of Swindon Independent Labour 6:00, 2 November 2015

If the European Union did not sign a treaty with us but put restrictions on trade, it would be very much the loser. We are trading with the European Union at the moment on the basis of a deficit of £70 billion a year. Why would Europe not want to trade with us? It traded with us before we joined, when 35% of our exports went to Europe. Why on earth would the European Union wish to stop trading with us? Of course it would not. That is nonsense and I wish people would stop talking about these 3,500,000 jobs which are going to be lost.