UK Parliament / Open data

Welsh Affairs

Proceeding contribution from Stephen Kinnock (Labour) in the House of Commons on Thursday, 3 March 2016. It occurred during Backbench debate on Welsh Affairs.

I thank the hon. Gentleman for his intervention, but I am afraid that he is confusing the budget of the European Union with the British economy.

The British economy benefits to the tune of £227 billion a year in the exports that it makes to the European Union, thanks to its membership of the single market. If we are looking for value for money, £9 billion to £227 billion looks like a pretty good deal to me.

More immediately, many share my concerns about the months between now and 23 June and ask whether it is realistic to expect rational decisions to be made around a Cabinet table that is beset by mutual loathing.

Hundreds of thousands of Welsh jobs are linked to EU membership, and that membership is our largest source of investment, bringing growth, quality employment and higher wages. Much of our global investment from outside the EU is made possible by the fact that, inside the EU, we provide a gateway to the single market. That is a major reason for international firms such as Tata Steel in my constituency to locate in Wales.

As Members will be aware, the Welsh steel industry finds itself in a precarious position and nowhere in Wales is that felt more acutely than in my constituency. The works in Port Talbot are the productive core of our local economy and community, so the announcement at the start of the year of 750 job losses was a bitter blow, which will be compounded when the impact starts to be felt through the supply chain and the wider local economy.

Although the steel crisis may be partly the result of global trends and events, what cannot be ignored is that the Government have been asleep at the wheel for the past five years. Far more could and should have been done to give the British steel industry a fighting chance. From the blatantly unfair and distortive dumping of Chinese steel to the incompetent and complacent management of public procurement, this Government have failed to give justified support or stimulus to steel.

About this proceeding contribution

Reference

606 cc1164-5 

Session

2015-16

Chamber / Committee

House of Commons chamber
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