They invest in Britain not just because it is Britain, but because Britain is part of Europe. Smaller British companies are also dependent on this inward investment which our membership of the European Union brings. New investors create jobs through the supply chain. Nissan up in the North East of England, where my constituency is, not only has the highest productivity of any car plant in Europe, but has also supported the development of a world class components industry in the region. Membership of Europe brings other economic benefits.
Telecommunications is a vital part of the electronic economy.
EU single market measures have opened opportunities for our telecoms operators and reduced costs and prices. The price of a telephone call, for example, to France has halved between 1989 and 1999. Membership of the European Union also gives us a stronger voice in opening markets elsewhere. It is against this backdrop that talk of renegotiation is so dangerous. Yet that is exactly what the Conservative party is doing at the moment.