My intervention during the Urgent Question on Leaving the EU: Economic Impact of Proposed Deal, 20 February 2019

John Redwood (Wokingham) (Con): Will the Treasury issue a codicil or a clarification of its economic forecasts, looking at what happens if we leave in March under the managed World Trade Organisation model, when we spend the £39 billion-plus of the withdrawal agreement on boosting public services and boosting our economy at home? We are bound to be better off—is that not true?

Financial Secretary to the Treasury (Mr Mel Stride): It is important to recognise that the modelling is on the basis of the status quo, so the model would not take into account factors of the kind that my right hon. Friend has raised, or indeed changes in productivity or trade flows and other factors. It will be for individual Members to assess the specific issues that he raised, in that context.

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One Comment

  1. nhsgp
    Posted February 21, 2019 at 4:00 pm | Permalink

    Why 39 bn? It’s just commentators that mention that number?

    30 bn a year in subsidies to EU migrants in the UK

    100 bn for bailing Eurocrats out of their pensions.

    13.5 bn in membership fees annually

    I hear talk of a never ending 10 bn a year.

    Why are the numbers being hidden?

    Put down an amendment requiring either a special tax to pay off the EU, or a list of cuts to be made instead [or both]

    Put down an amendment capping any payments to the EU.

    Put down an amendment insisting that EU rule of no recourse to public funds is implemented in full. Defined public funds as other people’s money.

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, He graduated from Magdalen College Oxford, has a DPhil and is a fellow of All Souls College. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.

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