European Union: United Kingdom Membership

Baroness Smith of Newnham Excerpts

Monday 23rd May 2016 Lords Chamber

[Baroness Anelay of St Johns]

I find lots of things interesting, my Lords.

[Baroness Smith of Newnham (LD)]

My Lords, if we believe Her Majesty’s Treasury’s estimates of the short-term and long-term consequences of a vote to leave the European Union, which would leave the United Kingdom financially much worse off, would that not have negative ramifications in terms of our defence expenditure? The 2% commitment to NATO is excellent, but if we have a smaller economy, that means less money, fewer defence capabilities and a weakened, less secure United Kingdom.

[Baroness Anelay of St Johns]

The noble Baroness is right.