Brexit: Preparations - Statement

Part of the debate – in the House of Lords at 3:55 pm on 8th October 2019.

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Photo of Baroness Smith of Newnham Baroness Smith of Newnham Liberal Democrat Spokesperson (Defence) 3:55 pm, 8th October 2019

My Lords, the Statement addresses the danger of dishonouring the referendum result, suggesting that 17.4 million people voted to end vast financial contributions to the EU and instead invest in people’s priorities, such as the NHS—I seem to remember that being on the side of a bus—and our brave police service. Fine, those investments would be great, but in light of the IFS’s suggestion today that a no-deal Brexit would lead to borrowing at levels not seen for 50 years and to our debt-to-GDP ratio rising to 90%, when will Her Majesty’s Government stop dancing to the tune of the Brexit Party, the Spartans and Mr Dominic Cummings, and acknowledge that the financial costs of Brexit, especially a no-deal Brexit, will outweigh any financial contributions that we have been making to the European Union?