My Lords, yesterday much of the debate in this Chamber concerned the havoc in the markets caused by the Government’s mini-Budget. Confidence in the UK’s financial stability has been badly shaken. The cost is huge for ordinary people in this country with mortgages, and the rest of us will all be paying. But this morning the rout continued: the Bank of England had to wade in again to try and restore a degree of confidence.
Imagine how that loss of confidence in the UK would be compounded if we were to unilaterally tear up an international treaty. Now, it may be, as the noble Lord, Lord Bew, suggests, that international law is not always very clear, but when the noble Lord, Lord Howard of Lympne, the noble Lord, Lord Pannick, and the noble Baroness, Lady Kennedy of The Shaws, all see things from the same point of view, I tend to think that they might be right. If this Government so clearly state that the UK’s word is no longer its bond, then what does it mean for the value of our bonds, which are already being trashed?
There is so much to detest about the Bill, not just its contempt for international law. This afternoon, we have heard from so many Members about why it is at risk of breaching international law and is about to breach so many of the rights of Parliament. The noble Lord, Lord Forsyth, said that the Bill was about restoring democracy but, as the noble Baroness, Lady Chapman, pointed out, the Bill gives so much power to the Executive and shows such little respect for Parliament that it is an insult to democracy. The noble Baroness, Lady Meacher, pointed out that it is seen as pushing Henry VIII powers further than they have ever been pushed before.
The protocol is not perfect but the threat to impoverish the UK and Ireland, north and south, that we would sustain if we went ahead with the Bill would be appalling. Trade between these countries has flourished post pandemic. For the first seven months of 2022, imports of goods from Northern Ireland to Ireland are actually running 93% higher than in 2019. As the noble Baroness, Lady O’Loan, pointed out, what Northern Ireland has is the possibility of the best of both worlds. If we can get a negotiated solution to the problems with the protocol, Northern Ireland is the winner.
The Bill not only jeopardises that but contains provisions which are simply not workable. The proposed dual regulation route for regulated goods is deemed a killer by those in agribusiness, in particular; they simply could not cope. As the noble Baroness, Lady Doocey, said, dual regulation would decimate the Northern Ireland dairy industry. According to the British Irish Chamber of Commerce, the bureaucracy involved would be increased to unmanageable levels.
It is really encouraging that technical negotiations have resumed between the EU and the UK; it is in the interests of both to sort this out. That should be possible; the EU already has veterinary agreements, for instance, with New Zealand and Switzerland. Why not the UK? That would enable Northern Ireland to continue trading without the onerous bureaucracy. The Specialised Committee on the Protocol is already mandated to address any issues with implementing the protocol. If its powers were strengthened, it would be able to respond effectively to the problems perceived by business and provide speedy solutions to smooth cross-border trade, while showing respect for the EU single market.
This may look like a fudge, but fudge is the only way to solve what was always the core problem of Brexit: how to have a border without a border—impossible, so fudge it. Unfortunately, the noble Lord, Lord Frost, whose name is on the speakers’ list, is not here this afternoon. I was hoping he would be able to tell us why he supports the Bill when it was only on Christmas Eve 2020 that he tweeted:
“I’m very pleased and proud to have led a great UK team to secure today’s excellent deal with the EU.”
It was not a great deal but, having agreed to it, it is now incumbent upon our Government to make the best of it and not further damage our international reputation.
6.34 pm