European Economic Area: UK Membership

Debate between Jim Shannon and Anna Soubry

Monday 6th November 2017 Commons Chamber

[Jim Shannon]

I am a “glass half full” person. I look on the bright side of life, because that is what we should do. Some people have a “glass half empty” outlook, and they look at everything negatively, but I do not look at things in that way. I am positive about what we are doing, the way forward and the ability of our ministerial team to achieve what we want. We have to agree to differ about how some things will come together, and that is part of life.

[Anna Soubry]

I thank the hon. Gentleman, who is my friend, for giving way. Is he not extremely worried—even though he is a great optimist, as we have heard—about the real possibility of not getting a deal, especially in relation to customs? Northern Ireland needs a proper deal on customs, and there is every chance that we will not get it. That eventuality would be a really serious problem for Northern Ireland.

[Jim Shannon]

I thank the right hon. Lady—she is also my friend—for her intervention. I think we share the same wish to get a successful deal, although, with great respect, I do not share her fears about it. I am keen to get a deal.

In the short time I have left, I want to share some figures that I have been provided with, which call into question the matter of EEA membership on financial grounds alone. About 43% of UK exports in goods and services went to other EU countries—£240 billion out of £550 billion total exports. That share has generally been declining, since exports to other countries have increased at a faster rate. The EU’s share of the world economy has declined, too. In particular, the developing world has grown faster than the developed world. We have to be mindful of the opportunities in other parts of the world and expect to do better out of them. About 54% of our imports into the UK came from other countries in the EU in 2016. The world will continue to need our goods, and we will continue to need to buy goods from the rest of the world. It seems to me that to remain a member of the EEA would not be in our nation’s best financial interests.