Brexit: Economic Effects

Lord Davies of Oldham Excerpts

Wednesday 21st November 2018 Lords Chamber

[Lord Bates]

I agree wholeheartedly with my noble friend.

[Lord Davies of Oldham (Lab)]

My Lords, the Minister’s Answer to my noble friend Lady Quin was somewhat elliptical and roseate in hue. When we come to the question of the Commons having to consider the issue of the meaningful vote, is it not the case that the Minister in the Commons confessed on Monday that the economic analysis would of course depend on aspects of withdrawal, but with Britain still a full member of the European Community? How on earth can that prove to be realistic in people’s judgment on the withdrawal position?

[Lord Bates]

That was the decision that Members of the other place came to in the debate on Monday. They introduced Amendment 14 to the Finance Bill, which called on the Government to consider the long-term costs and benefits of moving to a new trading relationship with the EU and the rest of the world. The Exchequer Secretary said:

“I am happy to confirm that the baseline for this comparison will be the status quo—that is, today’s institutional arrangements with the EU”.—[Official Report, Commons, 19/11/18; col. 661.]


So we are doing what we have been asked to do by the other place.