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EU: Single Market (EUC Report)

Yes, my Lords, I would have said for the purposes of this debate that the Lisbon treaty is irrelevant to the continued drive for an effectively working single market. Many factors around the fringes will affect it, one of which, I suggest, if we are not careful, is the mood music. We have to make sure that people understand and enjoy the street cred that comes with a single market, and see it for the opportunity that it is, and not the threat. That understanding is more important in other countries than here; this country in its DNA gets globalisation and single markets. We like wider markets in which people get richer every day and buy our goods and services. It is not rocket science. We get it throughout the country. I cannot say the same for certain other countries. I will not name names, but I can think of one 22 miles south-east of Dover. I want to deal with one point raised by the noble Lord, Lord De Mauley. He raised the single payments policy. That is a Treasury lead, not a UKTI lead. As the noble Lord knows, it is related to European Union monetary policy. I will refer the matter to Ministers in the Treasury and ensure that they get back to him. In conclusion, Her Majesty’s Government believe that the Commission’s single market review, by highlighting areas in which the single market can be further improved, will give the European Union the impetus to move forward and create more jobs that are sustainable. It will centre the whole drive of enterprise and entrepreneurship around the development of knowledge to increase competitiveness and to ensure that there is a European Union single market which works for consumers and for businesses. Both aspects of democratic capitalism have to operate in a globally competitive environment, or we are history. At the same time we can use it to tackle the challenges of poverty, prejudice and ignorance that happen throughout the European Union. The single market has created one of the great opportunities of this century. The United States is going to spend the next 20 years welcoming other powers to the top table. Its omnipotence economically is over. We will see China, India and others join it at the top table. I do not see the demise of America; I merely see a widening at the top. Whether the European Union—480 million people living in peace—wishes to join that top table, is going to be for the single market to deliver. On that basis the report from the European Union Sub-Committee B has made an important contribution to the analysis. I commend it.