Oral Answers to Questions Debate

Full Debate: Read Full Debate
Department: HM Treasury

Oral Answers to Questions

Barry Sheerman Excerpts
Tuesday 7th February 2023

(1 year, 3 months ago)

Commons Chamber
Read Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Steven Bonnar Portrait Steven Bonnar (Coatbridge, Chryston and Bellshill) (SNP)
- Hansard - - - Excerpts

3. What recent assessment his Department has made of the impact of the UK’s withdrawal from the EU on the economy.

Barry Sheerman Portrait Mr Barry Sheerman (Huddersfield) (Lab/Co-op)
- Hansard - -

14. What recent assessment he has made of the impact of the UK’s departure from the EU on the economy.

Jeremy Hunt Portrait The Chancellor of the Exchequer (Jeremy Hunt)
- View Speech - Hansard - - - Excerpts

Busy day for me. With permission, I would like to answer this with question 16.

Leaving the EU has enabled the UK to realise an array of economic opportunities—not just the Solvency II reforms, but 71 trade deals with non-EU countries worth £240 billion to the UK economy in 2021.

--- Later in debate ---
Jeremy Hunt Portrait Jeremy Hunt
- Hansard - - - Excerpts

And very important, too, if I may say so.

There is a certain irony in the SNP opposing Brexit at the same time as advocating separation for Scotland, which would have a far bigger impact. But as the hon. Member has talked about our economic performance, since we left the single market, our growth has actually been higher than that of France or Germany. There are other things that have happened since then as well, but I do not think it is the doom and gloom that he suggests.

Barry Sheerman Portrait Mr Sheerman
- View Speech - Hansard - -

Last week, I was a bit unkind to one of the Treasury team, and can I apologise for that? I shall be very nice this morning.

Does the Chancellor agree with former Home Secretary Amber Rudd? Yesterday, she said that in order to be a Conservative today you have to have a few drinks and then say that Brexit actually works, or if you have really had a few drinks you can admit it does not work. Could we on all Benches admit that we are poorer in this country because of Brexit and do something about it?

Jeremy Hunt Portrait Jeremy Hunt
- View Speech - Hansard - - - Excerpts

All I would say is that, if Labour really are against Brexit, they should have the courage of their convictions and say they want to re-join the EU. That is the problem: because they do not believe they can make a success of it, they will never be able to run the British economy under it.