Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the financial effect on the housing sector of the UK leaving the EU without a deal.

We would prefer to leave with a deal, and we will work in an energetic and determined way to get that better deal.

The fundamentals of the British economy are strong – wages are growing at the fastest rate in over a decade, employment is at a joint record high and the unemployment rate is at its lowest in over 40 years.

The Government is turbocharging preparations to ensure we are ready to leave with or without a deal on 31 October, and all necessary funds will be made available. HM Treasury routinely monitors economic conditions and risks.

Short-term forecasting is undertaken by the Office for Budget Responsibility in line with its statutory duty. In line with its remit, the OBR’s forecasts include the economic and fiscal impact of government policy on EU exit where the effects can be quantified with reasonable accuracy.

The Bank of England also provided analysis of the EU exit impacts on the UK economy consistent with its responsibilities on monetary policy.