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Brexit: North-East of England - Question

Part of the debate – in the House of Lords at 3:07 pm on 9th May 2018.

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Photo of Lord Lawson of Blaby Lord Lawson of Blaby Conservative 3:07 pm, 9th May 2018

My Lords, is my noble friend aware, apart from the fact that the short-term economic forecasts put out by Project Fear have already been proven to be false, that serious academic studies have shown that medium and long-term economic forecasts are not worth the paper they are written on? Is he aware that I was Chancellor of the Exchequer at the time that Nissan had to decide where it was going to put its European headquarters? I remember the discussions very well, and Nissan was not at all concerned about our membership of the European Union. It was concerned about the quality of the workforce, our regulatory system and, above all, our tax system. It decided to come to this country, which has been a huge success for it.