Brexit: Financial Settlement

Baroness Hayter of Kentish Town Excerpts

Thursday 12th October 2017 Lords Chamber

[Baroness Anelay of St Johns]

My Lords, this is clearly a crucial matter for all those involved, not only in the industry at first cast but throughout the supply chain. It is a matter for discussion as we arrange the details not only of the withdrawal agreement but about our future relationship. I assure the noble Earl that the interests of all those involved are being taken deeply into account on that matter.

[Baroness Hayter of Kentish Town (Lab)]

My Lords, the FT today says that the Brexit talks are at a “virtual political standstill”. One official involved says that:

“There was nothing, zero, no progress”.


The British Chambers of Commerce says that further delay in opening trade talks risks a “lose-lose scenario”. How many more dire warnings about what this will do to the economy and jobs do the Government need before they start negotiating seriously?

[Baroness Anelay of St Johns]

My Lords, it was made clear by Monsieur Barnier and others that the Prime Minister’s speech in Florence added new momentum. That momentum has continued, and that was made clear in the Prime Minister’s report to Parliament on Monday. This week’s negotiations have proceeded at a technical level, and we will hear later statements from the Secretary of State and Monsieur Barnier about that. However, as we move to the stage of wanting to have negotiations about our future partnership, there will be political decisions to be made about that. I and my colleagues have been engaging across Europe in setting out the reasons why we think that it is right, for the economy of all countries of Europe, that we move to that negotiation swiftly.