UK Economy — House of Commons, 2016-06-29
Topic: International Affairs
Huw William Merriman (Conservative, Centre-right): It is a pleasure to follow the powerful and eloquent speech of the hon. Member for Ilford North (Wes Streeting); I feel somewhat like a dull bank manager following on from his act Perhaps unusually, may I welcome not just the subject of the motion, but also the wording of it? I congratulate those on the Opposition Front Bench on bringing this motion forward today I must confess that the decision made by the voters of the UK to leave the European Union came as both a surprise and a shock to me. I spent my time holding debates across my Bexhill and Battle constituency so that constituents could hear both sides of the argument and then come to their own conclusion. I never sought to influence their votes one way or the other. This position of balance also permitted me to speak to 25 schools—both secondary and primary—over the last week of the referendum campaign. It troubled me greatly that young children whose parents were originally from the EU were asking if their parents would have to leave the UK or whether Britain would go to war if we left. At least it gave me the opportunity, with balance, to do my best to reassure them I would contend that the campaign themes and sometimes extreme scenarios that were being asserted were causing these concerns to be raised and it is little wonder to me that some votes appear to have been irrationally cast. Had the remain side recognised, perhaps in more balanced tones, that there were positive reasons for the UK to leave the EU but even more positive reasons to remain, I wonder whether the UK population would have so readily lined up to give the establishment opinion-makers the thumbs-down All this is for historians to deal with in due course. We are where we are and it is my belief that we in this place have to lead from the front and get the best deal for the UK in order to preserve the rights that our population has enjoyed from the EU while delivering the semblance of democratic control which the public have demanded of us through this result While I have concerns about the economic implications in the short term, I believe that, with the right civil service negotiation team in place, we can get a good deal from our European partners. I do, however, believe that this will take determination, good grace, hard work, focus and an ability to work with our European counterparts. Thumbing our noses, as Nigel Farage did so disgracefully in the European Parliament this week, not only demonstrates that he should not be let anywhere near this process, but also demonstrates that vitriol and triumphalism rarely bring out the best in negotiation counterparts My rationale for this is borne of my experience working at Lehman Brothers over a 15-year period, for seven years with the small team that was unwinding what became the world’s largest bankruptcy. I was running a legal department the day Lehman Brothers went bankrupt. During the speech of the hon. Member for Ilford North, there was a time when I wanted to come over and give him a cuddle, because there was great fear in 2008 just like the fear for his generation that he was describing. There is great fear right now, but I remember that fear back in 2008, from a personal perspective because I had my mortgage on that institution, and my friends and colleagues for many years worked for it. Despite what people say about investment banks, they include not only bankers, but cleaners, secretaries, and people who do not earn a great wage, and they lost not only their job, but their sense of pride and security in that institution.