Members of the House of Lords, including several with experience of trade, industry and international financial markets debated how the Government should contribute to Europe’s financial stability and growth on Thursday 3 November.
Speaking ahead of the debate Lord Newby (Liberal Democrat), who tabled and opened the debate, explained:
“We are addressing this subject at a critical time. The Eurozone crisis is threatening the UK’s economic future and calling into question the UK’s place in Europe. It is vital that we respond positively and constructively.
“Over 42% of UK trade is with the EU and our economy will depend on the EU for the foreseeable future. We must play a positive part in securing Europe’s future financial stability and economic growth; there is no plan B.
“I called this debate because we have to act now to get a credible strategy in place to support long term stability and growth across Europe. Members of the Lords have deep experience to contribute and must do so if we are to help the Government put the UK on track to secure the European growth it needs.”
Lord Newby called for a European growth strategy which builds on the single market and for the UK to adopt a range of measures to secure EU growth and financial stability.
Members of the Lords who took part
Use links to watch/listen to their contributions:
- Lord Bilimoria (Liberal Democrat), entrepreneur and founder of Cobra Beer.
- Lord Haskel (Labour), a former company Chairman and Government Spokesperson for Trade and Industry.
- Lord Razzall (Liberal Democrat), former Chief Executive and entrepreneur.
- Lord Harrison (Labour), Chairman of the Lords EU Sub-Committee whose recent reports include 'Sovereign credit ratings: Shooting the messenger' and reports on the future of EU economic governance as well as its financial supervisory framework.
Baroness Noakes (Conservative), Lord Flight (Conservative), Lord Shipley (Liberal Democrat), Lord Teverson (Liberal Democrat) are also took part.
Lord Liddle (Labour) wound up the debate on behalf of the opposition and Lord Sassoon (Conservative) responded on behalf of the government.
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