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Proceeding contribution from Ian Davidson (Labour) in the House of Commons on Thursday, 14 October 2010. It occurred during Adjournment debate on Banking in Scotland.


Banking in Scotland

It is unrealistic to expect that many in Ireland would want to return to being part of the UK, because people there felt that they wanted independence for Ireland even if it impoverished them. Many people we met recognised that, in many ways, they were becoming more of a colony of the UK now than they had been, because high streets in Ireland were run by Tesco and WH Smith, for example. A relatively small number of Irish businesses seemed to have a presence and they no longer had influence on the UK. People there were unhappy that they no longer had control over their own currency, because, like the SNP, they wanted to—and did—join the euro, which meant that they were unable to devalue competitively in a way that might have produced a boost for their economy. There was much weeping, wailing and gnashing of teeth, as perhaps the Irish are prone to do, about that issue. There is no doubt that the difficulties faced by the Irish Government and people were exacerbated by Ireland's being a stand-alone economy without control over its own currency. The Irish Government have been making huge cuts in public services—cuts in wages, pensions and services—all of which were going through when we visited. Some of those might come about now, but seeing all that was helpful and constructive.


Secondary information

Type
Proceeding contribution
Reference
516 c153WH 
Session
2010-12
Chamber / Committee
Westminster Hall
Subjects
Bank services Banks Bank of England Financial institutions Public expenditure Scotland Regulation Royal Bank of Scotland
Link
View this Proceeding contribution on www.publications.parliament.uk