To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Exchequer Secretary to the Treasury of 30 September 2019, Official Report, column 981, what assessment his Department has made of the effect on the housing sector of short positions against the pound in the event...

To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Exchequer Secretary to the Treasury of 30 September 2019, Official Report, column 981, what assessment his Department has made of the effect on the housing sector of short positions against the pound in the event...

Can the Minister confirm that the Government’s own economic assessment shows that a no-deal Brexit would have the most damaging consequences for the British economy, investment, jobs and businesses? As that is the case—[Interruption.] Well, we have all read the assessment produced by the Government. As that is the case,...

Can the Minister confirm that the Government’s own economic assessment shows that a no-deal Brexit would have the most damaging consequences for the British economy, investment, jobs and businesses? As that is the case—[Interruption.] Well, we have all read the assessment produced by the Government. As that is the case,...

The right hon. Gentleman makes a point that we have often debated in the House. We believe on the Government Benches in delivering on the referendum mandate, which was to trigger article 50 and leave the European Union. The operation of article 50 is clear—we leave with a deal if...

The right hon. Gentleman makes a point that we have often debated in the House. We believe on the Government Benches in delivering on the referendum mandate, which was to trigger article 50 and leave the European Union. The operation of article 50 is clear—we leave with a deal if...

Thank you Mr Speaker, you are very kind. It is wonderful to see the Minister in his place, oozing calm and authority, in sharp contrast to the stoking of fears and division on the Opposition Benches. We have just heard about the risk to the economy, but the real risk...

Thank you Mr Speaker, you are very kind. It is wonderful to see the Minister in his place, oozing calm and authority, in sharp contrast to the stoking of fears and division on the Opposition Benches. We have just heard about the risk to the economy, but the real risk...

I thank my hon. Friend for those kind remarks. It is clear that that would be the ultimate vote of no confidence in the British economy.

I thank my hon. Friend for those kind remarks. It is clear that that would be the ultimate vote of no confidence in the British economy.

Does the Minister not find it ironic that the shadow Chancellor should be concerned about the future value of the pound and the impact on speculation, given that he and his party have spread economic gloom and doom, have talked the economy down, and have proposed lunatic economic policies if...

Does the Minister not find it ironic that the shadow Chancellor should be concerned about the future value of the pound and the impact on speculation, given that he and his party have spread economic gloom and doom, have talked the economy down, and have proposed lunatic economic policies if...

I could not agree more strongly with the right hon. Gentleman. Yes, the danger is less our leaving the European Union—it is more the Opposition entering Downing Street.

I could not agree more strongly with the right hon. Gentleman. Yes, the danger is less our leaving the European Union—it is more the Opposition entering Downing Street.

I congratulate my hon. Friend on his appointment. He is doing brilliantly in his first appearance at the Dispatch Box. He discussed bringing certainty to the markets by delivering Brexit. The main message that I hear from constituents in Harrogate and Knaresborough is that after three and a half years...

I congratulate my hon. Friend on his appointment. He is doing brilliantly in his first appearance at the Dispatch Box. He discussed bringing certainty to the markets by delivering Brexit. The main message that I hear from constituents in Harrogate and Knaresborough is that after three and a half years...

I thank my hon. Friend, who has been a distinguished holder of this office. He is absolutely right. There is in all walks of life a demerit to uncertainty. There is a real problem whereby we marched the country up to the top of the hill in the run-up to...

I thank my hon. Friend, who has been a distinguished holder of this office. He is absolutely right. There is in all walks of life a demerit to uncertainty. There is a real problem whereby we marched the country up to the top of the hill in the run-up to...

Over the weekend, I watched “The Big Short”, and I would encourage everyone to watch that film about sub-prime mortgages. In it, there were several hedge funders who made billions from the collapse of the market. They did not care that honest, ordinary Americans lost their homes and jobs. When...

Over the weekend, I watched “The Big Short”, and I would encourage everyone to watch that film about sub-prime mortgages. In it, there were several hedge funders who made billions from the collapse of the market. They did not care that honest, ordinary Americans lost their homes and jobs. When...

I am an historian rather than an economist, but I certainly do not take my lessons on hedge fund activity from Hollywood. We need to be very clear about the fact that there is a real need to provide certainty, and that certainty is hugely important.

Let me say gently—and it...

I am an historian rather than an economist, but I certainly do not take my lessons on hedge fund activity from Hollywood. We need to be very clear about the fact that there is a real need to provide certainty, and that certainty is hugely important.

Let me say gently—and it...

I congratulate my hon. Friend on his new position. He is truly doing sterling work this afternoon. It will come as no surprise

to him to learn that I am fully in favour of well-run and smooth capital markets, from which London is reaping an international reward. Would he care...

I congratulate my hon. Friend on his new position. He is truly doing sterling work this afternoon. It will come as no surprise

to him to learn that I am fully in favour of well-run and smooth capital markets, from which London is reaping an international reward. Would he care...

My hon. Friend is absolutely right. I am afraid we cannot get around the fact that we are now dealing with something very dangerous in terms of the division between the two parties: the division between economic rationality and a programme that would well-nigh destroy the free-market economy in this...

My hon. Friend is absolutely right. I am afraid we cannot get around the fact that we are now dealing with something very dangerous in terms of the division between the two parties: the division between economic rationality and a programme that would well-nigh destroy the free-market economy in this...

Does the Minister accept the specific conclusions in the Office for Budget Responsibility’s fiscal risks report? In July, the OBR ran a stress test on a no-deal scenario, on the model of the International Monetary Fund. It predicted that sterling could depreciate by 10% immediately, because

“market participants judge that a...

Does the Minister accept the specific conclusions in the Office for Budget Responsibility’s fiscal risks report? In July, the OBR ran a stress test on a no-deal scenario, on the model of the International Monetary Fund. It predicted that sterling could depreciate by 10% immediately, because

“market participants judge that a...

What I will say is that I believe we can avoid that scenario entirely if we get a good deal and leave the European Union according to plan, on 31 October. We are very clear about the fact that, in a scenario whereby we cannot get a deal through the...

What I will say is that I believe we can avoid that scenario entirely if we get a good deal and leave the European Union according to plan, on 31 October. We are very clear about the fact that, in a scenario whereby we cannot get a deal through the...

Would my hon. Friend care to comment on this splendid irony? Mr George Soros, who in 1992 made a fortune in short positions against the pound, is now one of the bankrollers of the Continuity Remain campaign.

Would my hon. Friend care to comment on this splendid irony? Mr George Soros, who in 1992 made a fortune in short positions against the pound, is now one of the bankrollers of the Continuity Remain campaign.

Tempting as it is to follow the trail laid down by my hon. Friend, I will content myself with saying that, just as I would not comment on the actions of individuals in my reply to an Opposition Member, I will not comment on the actions of individuals now. However,...

Tempting as it is to follow the trail laid down by my hon. Friend, I will content myself with saying that, just as I would not comment on the actions of individuals in my reply to an Opposition Member, I will not comment on the actions of individuals now. However,...

One of the areas of the economy that the casino-style hedge funds will be betting against is the housing market. What assessment has the Treasury made of how many

fewer homes will be built, and which section of the house building economy will be worst affected: renters, first-time buyers or...

One of the areas of the economy that the casino-style hedge funds will be betting against is the housing market. What assessment has the Treasury made of how many

fewer homes will be built, and which section of the house building economy will be worst affected: renters, first-time buyers or...

To the best of my knowledge, we have not commissioned specialist advice on the housing market. If I am incorrect, I will ensure that that is set out in writing to the hon. Lady. It is very clear that the UK housing market is in its most robust condition for...

To the best of my knowledge, we have not commissioned specialist advice on the housing market. If I am incorrect, I will ensure that that is set out in writing to the hon. Lady. It is very clear that the UK housing market is in its most robust condition for...

Uncertainty hits not only the London markets but the markets in Edinburgh and elsewhere across the United Kingdom. Does my hon. Friend agree that the best way to end this uncertainty is to vote for a deal, as he did back in March?

Uncertainty hits not only the London markets but the markets in Edinburgh and elsewhere across the United Kingdom. Does my hon. Friend agree that the best way to end this uncertainty is to vote for a deal, as he did back in March?