Asked by: Rachael Maskell (Labour (Co-op) - York Central)
Question to the Department for Exiting the European Union :
To ask the Secretary of State for Exiting the European Union, what discussions his Department is having with HM Treasury on monitoring the effect on the economy of triggering Article 50 and the process of the UK leaving the EU.
Answered by Robin Walker
The Department for Exiting the European Union is undertaking a wide range of analysis of the effect on the economy, in partnership with HM Treasury and other government departments and has been engaging closely with stakeholders. The UK’s decision to leave the EU means there will be a period of adjustment, but the UK economy is resilient. The unemployment rate is at its lowest level in four decades and the employment rate has never been higher. Businesses have continued to show their confidence in the UK, with major investments announced by GlaxoSmithKline, Google and Apple, among others. During our negotiations with the EU we are determined to get the very best deal for households and businesses and will continue to work closely with other government departments and HM Treasury to achieve this.