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National Referendum on the European Union

Talking of absurd scares, it is now 12 years since the right hon. Gentleman pronounced the death of Britain in his book, so I am a little cautious of taking his advice on the matter. All of us are aware that growth is stalling in Europe. Indeed, growth forecasts were downgraded in Germany just last week. We need to consider the economic effects at home and in our largest export markets abroad if the motion were to be passed. Businesses deciding whether to invest in Britain at this crucial time would have to make that decision not knowing whether it would still be in the European Union by the time that investment came to fruition.