Oral Answers to Questions

Debate between Toby Perkins and Gerald Jones

Tuesday 18th April 2017 Commons Chamber

[Toby Perkins (Chesterfield) (Lab)]

7. What recent assessment he has made of the potential effect of the UK leaving the EU on the public finances.

[Gerald Jones (Merthyr Tydfil and Rhymney) (Lab)]

8. What recent assessment he has made of the potential effect of the UK leaving the EU on the public finances.

[The Chancellor of the Exchequer (Mr Philip Hammond)]

We’ll see how lucky, Mr Speaker.

The Government have undertaken a significant amount of work to assess the economic and fiscal impacts of leaving the EU, and they continue to carry out that work. This is part of a continuing programme of analytical work covering a range of possible exit scenarios, including sectoral analysis, but I have to say to the House that we are seeking the best possible deal for the United Kingdom, recognising that there is a range of possible outcomes to the negotiations, and the work being done reflects this. The Government have also committed to keeping Parliament informed, but it would not be appropriate to publish analysis that risks undermining our negotiating position.