Brexit: Economic Analyses Debate
Full Debate: Read Full DebateDepartment: Department for Exiting the European Union
Lord Davies of Stamford
Main Page: Lord Davies of Stamford (Labour - Life peer)Department Debates - View all Lord Davies of Stamford's debates with the Department for Exiting the European Union
(6 years, 3 months ago)
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The Minister of State, Ministry of Defence (Earl Howe) (Con)
My Lords, if we are quick, we have time for both noble Lords, but I think that it is the turn of the Conservative Benches.
Lord Callanan
My noble friend speaks great sense. It is a matter of common sense—but, apparently, it is not a common sense shared by the Liberal Democrats.
Lord Davies of Stamford
Did the Minister notice in this morning’s newspaper the report of a study produced by the Bank of England which estimated that 10,000 financial service professionals will leave this country between now and Brexit day? Goodness knows how many will leave after that. Are the Government entirely indifferent to news of that kind?
Lord Callanan
I have not seen that study. I shall go away and have a look at it, but I do not believe that it can be accurate. We have the best and most successful services industry in Europe, and we want that to continue. We will be negotiating with our European partners to bring that situation about.