Treaty of Lisbon (No. 4)

If hon. Gentleman will let me make my speech, I shall try to make the point in my own way. I am talking about the historical development of what started as a market and the way in which it has evolved into a wider economic and political relationship that has profoundly benefited the United Kingdom and the continent. I am sure that the hon. Gentleman will make his own contribution later. I do not want to deprive him of the opportunity of doing so, because we are all looking forward to hearing his remarks again—and again and again, probably. The fundamental purpose that I have set out has remained the European Union's driving force. Beginning as the European Coal and Steel Community, it has since expanded to take in more goods and more countries, and succeeded in achieving peace and clear economic and social benefits for business, consumers and citizens across Europe. I would hope that hon. Members from all parts of the House celebrate those achievements. The European Union is now the world's biggest single market, generating total gross domestic product of more than €12 trillion and comprising almost 500 million people. Since 1992, the single market has created more than 2.75 million extra jobs, led to a more than sixfold rise in foreign direct investment and increased trade by 30 per cent. By 2006, the single market had boosted GDP by an average of £360 for every person in the European Union. Eliminating border bureaucracy, for example, has slashed delivery times, reduced costs and opened hundreds of new export markets to British businesses both large and small. Nearly 60 per cent. of our total trade in the UK is now with other EU member states and around 300 million British jobs are linked to the export of UK goods and, increasingly, services to the European Union. British citizens—all our constituents—benefit from both a greater choice of higher quality goods and services at lower prices and stronger protections to guarantee their consumer rights throughout the European Union. Every year, EU investment helps to create and protect UK jobs and generates trade. Those who recognise the best interests of the British people have long realised that expanding the single market can be made possible only within a clear legal framework that establishes a new set of rules.