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Exchequer Secretary to give evidence to Lords EU Committee

On Wednesday 21 November 2018 the House of Lords EU Financial Affairs Sub-Committee will take evidence from Robert Jenrick MP, Exchequer Secretary to the Treasury.

HM Treasury's Philip Duffy, Director of Growth and Enterprise and David Lunn, Director of EU Exit, will also be giving evidence.

This will be the final public evidence session in the Committee's inquiry into how the UK might continue to participate in the European Investment Bank (EIB) after Brexit, and UK alternatives to it.

Questions the witnesses are likely to face include:

  • What is the Government's assessment of the risks of losing access to the EIB and European Investment Fund (EIF)?
  • The Committee has taken evidence which reports a sharp decline in EIB funding going to the UK following the referendum. How has the Government responded to this?
  • Under the Withdrawal Agreement, why was it agreed that the UK will not receive a proportionate share of the EIB's accumulated profits (which would amount to approximately €7.6 billion)?
  • Will the EIB continue to support projects in the UK on the same terms as an EU Member States during the transition period?
  • There are a number of existing Government schemes to support infrastructure investment, such as the UK Guarantees Scheme (UKGS). Will these be changed in light of possibly losing access to the EIB?
  • Several witnesses have told the Committee that, if the UK loses access to the EIB after Brexit, the Government should consider establishing a new national infrastructure financing institution. What is your view on this?
  • Should the role of the British Business Bank be expanded in certain areas? Will it have additional resources allocated to it in the future?

This evidence session will take place from 10am on Wednesday 21 November 2018 in Committee Room 4A of the House of Lords.

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