The Office for Budget Responsibility has estimated that productivity will be 4% lower than it would have been had the UK not withdrawn from the EU. However, alongside the trade deals struck with the US and India, the Government are resetting our relationship with the EU to get better deals on, for example, food and farming, as well as on electricity trading. The hon. Member’s party talks about how leaving the European Union has been costly and disruptive, but somehow thinks that Scotland leaving the UK and its internal market would be magically effortless and cost free. I must say that the SNP is no better than those who promised the public an extra £350 million a week for the NHS. It is all talk, but no delivery.
I will try to strike a note that is maybe a little better. We worked together with the Prime Minister, the Chancellor and others to overcome the Tories’ secrecy about their analysis of what it would be like to be outside the single market and the customs union. If we can overcome Tory secrecy on an analysis of leaving the EU, with it now costing an estimated £250 million a day, when will the Labour party release its analysis?
The Office for Budget Responsibility has produced an independent analysis and confirmed that it believes that 4% is the correct number, and the OBR continues to maintain that in its forecasts.
Has the Treasury made any assessment of the SNP’s plans to separate Scotland from its main market, the rest of the UK, which accounts for 60% of its trade? While I am at it, may I thank the Chancellor for the £820 million extra for the Scottish budget?
Order. The good news for the Chancellor is that she has no responsibility for the SNP. I call the Liberal Democrat spokesperson.
The botched Brexit deal has wrapped up British businesses in red tape and blown a hole in the public finances to the tune of £90 billion a year. The Chancellor insists that her No. 1 mission remains to get economic growth. If that is the case, will she and her Ministers vote with the Liberal Democrats this afternoon to make sure that we get rid of that red tape and deliver on a new UK-EU customs union?
Since we came to office last year, we have reset our relationship with the EU, which is why last May we agreed with the EU an expansive set of changes to our relationship, including on food and farming, on electricity and energy trading, and on youth mobility and Erasmus. We are taking all that forward, but at the same time we are taking opportunities to trade more with fast-growing economies around the world, including India, and we also got the first, and the best, trade deal that anybody has secured with the US. That is how we are going for growth, alongside passing the Planning and Infrastructure Bill last night in this place.