:00:37. > :00:40.Hello and welcome to the Daily Politics.
:00:41. > :00:42.Thousands gathered in Parliament Square last night
:00:43. > :00:46.in defiant support for him - but today, Labour MPs are voting
:00:47. > :00:49.in a motion of no confidence in Jeremy Corbyn.
:00:50. > :00:55.A vanquished Prime Minister returns to Brussels to tell fellow EU
:00:56. > :00:59.leaders that the British people have rejected the deal they offered
:01:00. > :01:02.to stay in the Union - what kind of deal will they offer
:01:03. > :01:09.And who will be the next Prime Minister?
:01:10. > :01:11.The runners and riders line up in the Conservative
:01:12. > :01:23.And with us for the whole of the programme today,
:01:24. > :01:25.is the former Newsnight and Channel Four News journalist -
:01:26. > :01:30.now prominent Jeremy Corbyn supporter - Paul Mason.
:01:31. > :01:37.An extraordinary day in the Commons yesterday.
:01:38. > :01:39.A Prime Minister who had just lost a referendum
:01:40. > :01:41.and announced his resignation, faced a Labour leader whose
:01:42. > :01:43.shadow cabinet were resigning en masse,
:01:44. > :01:44.saying they had lost confidence in his leadership.
:01:45. > :01:47.And it was the first day in the Chamber for the newly
:01:48. > :01:50.elected MP for Tooting, Rosena Allin-Khan.
:01:51. > :02:02.Let's have a look at some of those exchanges.
:02:03. > :02:09.With over 33 million people from England, Scotland, Wales, Northern
:02:10. > :02:14.Ireland and Gibraltar, all having their say, we should be proud of our
:02:15. > :02:18.parliamentary democracy. But it is right when we consider questions of
:02:19. > :02:23.this magnitude, we don't just leave it to politicians but leave it
:02:24. > :02:27.directly to the people. That is why members voted for a referendum by a
:02:28. > :02:33.margin of almost six to one. Let me welcome the new member for Tooting
:02:34. > :02:36.to her place. I would advise her to keep her mobile phone on, she might
:02:37. > :02:44.be in the shadow cabinet by the end of the day! Mr Speaker, the British
:02:45. > :02:48.people voted to leave the European Union. It was not the result I
:02:49. > :02:52.wanted nor the outcome I believe was the best for the country I love, but
:02:53. > :02:56.there can be no doubt about the result. I don't take back what I
:02:57. > :03:01.said about the risks. It will be difficult. There will be adjustments
:03:02. > :03:04.within our economy. Complex constitutional issues and
:03:05. > :03:07.challenging new negotiation to undertake with Europe. But I am
:03:08. > :03:11.clear, and the Cabinet agreed, that the decision must be accepted and
:03:12. > :03:15.the process of implementing the decision in the best possible way
:03:16. > :03:20.must now begin. Mr Speaker, tomorrow I will attend the European Council.
:03:21. > :03:25.In the past few days I have spoken to Chancellor Merkel, President
:03:26. > :03:28.Hollande and a number of other European leaders. We discussed the
:03:29. > :03:32.need to prepare for the negotiations and the fact the British government
:03:33. > :03:36.will not be triggering Article 50 at this stage. Before we do that, we
:03:37. > :03:40.need to determine the kind of relationship we want with the EU.
:03:41. > :03:44.That is something for the next Prime Minister and the Cabinet to decide.
:03:45. > :03:48.As political leaders we have a duty to calm our language and our tone,
:03:49. > :03:56.especially after the shocking events of ten days ago. Our country is
:03:57. > :04:01.divided. And the country will thank me that the benches in front of me
:04:02. > :04:01.nor those behind for indulging in internal factional manoeuvring at
:04:02. > :04:11.this time. Some of the exchanges
:04:12. > :04:14.in the Commons yesterday there. Now, Labour MPs are taking part
:04:15. > :04:17.in a vote of no confidence Let's talk to our
:04:18. > :04:32.correspondent, Iain Watson, What is happening? The ballots
:04:33. > :04:37.opened about an hour ago. MPs are voting around the corner from here
:04:38. > :04:41.but in an area closed to the public and the press. It will be a secret
:04:42. > :04:44.ballot. That probably makes it even more likely the result will be an
:04:45. > :04:51.overwhelming vote of no-confidence in Jeremy Corbyn. We had a guide to
:04:52. > :04:54.that last night with a meeting of the Parliamentary Labour Party. I
:04:55. > :04:59.just ran into a veteran Labour MP this morning. He said he had been an
:05:00. > :05:05.MP for 40 years and he had never been at a worse PLP. Alan Johnson
:05:06. > :05:09.smacked into Jeremy Corbyn, saying he had to take responsibility for
:05:10. > :05:13.the referendum. Yvette Cooper said his heart and soul was not in it.
:05:14. > :05:18.Everyone said, you are a nice guy but you are not a leader. There was
:05:19. > :05:23.a row outside of the Parliamentary Labour Party were John Woodcock got
:05:24. > :05:27.stuck into some of Jeremy Corbyn's aids and said Jeremy Corbyn posed an
:05:28. > :05:31.existential threat to the Labour Party itself. That is the atmosphere
:05:32. > :05:34.against which the ballot is taking place. Even if they do vote
:05:35. > :05:38.overwhelmingly against Jeremy Corbyn, that will not be enough to
:05:39. > :05:43.force him from office. There needs to be a formal leadership challenge.
:05:44. > :05:50.50 at -- 50 Labour MPs will have to unite around a candidate. Jeremy
:05:51. > :05:53.Corbyn's people thought it might be quite difficult. As one of them
:05:54. > :05:57.said, they all agree what they are against, can they agree on what they
:05:58. > :06:02.are for? The status of the no-confidence motion does not
:06:03. > :06:07.trigger the leadership ballot, but do you doubt there is going to be
:06:08. > :06:12.some kind of leadership challenge? Will Jeremy Corbyn be automatically
:06:13. > :06:16.on that ballot paper? Tom Watson told him yesterday he thought a
:06:17. > :06:23.leadership contest was inevitable. The question is, will Tom Watson,
:06:24. > :06:27.Dan Jarvis or Angela Eagle unite behind one candidate? I think in the
:06:28. > :06:30.end they will. Certainly if this photo is overwhelmingly against
:06:31. > :06:35.Jeremy Corbyn today. Then a formal leadership ballot would be
:06:36. > :06:38.triggered. That goes to the members. Jeremy Corbyn is hopeful that those
:06:39. > :06:42.rank-and-file members who joined to support him last year have not
:06:43. > :06:47.drifted away. But I have seen some correspondence sent from local party
:06:48. > :06:51.members to shadow cabinet members, who did support Jeremy Corbyn, and
:06:52. > :06:58.they want him to go as well. Willie automatically be in the ballot?
:06:59. > :07:06.There is conflicting legal advice. He will have to seek the support of
:07:07. > :07:12.MPs. That will be a big hurdle. It may end up in the courts.
:07:13. > :07:16.Joining us is Labour MP Andy Slaughter, who has also resigned.
:07:17. > :07:22.Welcome. You resigned last night after being a supporter of Jeremy
:07:23. > :07:25.Corbyn. What changed? I think the political climate has changed
:07:26. > :07:30.immeasurably since Brexit last week. There is no leadership of the
:07:31. > :07:34.country. A lame duck Prime Minister and the empty vessel of Boris
:07:35. > :07:39.Johnson waiting in the wings. Being -- the economy is in a terrible
:07:40. > :07:43.state. I had a racist attack on a Polish resident of my constituency
:07:44. > :07:46.over the weekend. The country is crying out for leadership. The
:07:47. > :07:50.opposition is just as important. We need to move on and have a leader
:07:51. > :07:54.that can unite the party in the country. Why do you think he cannot
:07:55. > :08:00.run night -- unite the party where's you did a week ago? He did get
:08:01. > :08:03.overwhelming support from members. I have been happy to support his front
:08:04. > :08:07.bench team and give him support over that period of time. But I think
:08:08. > :08:12.that what happened in the Brexit campaign, and I think the response
:08:13. > :08:17.from my colleagues, we will see in the vote tonight, people talk about
:08:18. > :08:21.membership. Membership is absolutely important. But I consulted my
:08:22. > :08:26.membership before taking this decision. Overwhelmingly the people,
:08:27. > :08:31.elected councillors, officers etc, said, we need a new leader. The
:08:32. > :08:36.majority of the front bench have asked Jeremy Corbyn to go. 46 MPs
:08:37. > :08:42.have quit. The party is tearing itself apart. Jeremy Corbyn is still
:08:43. > :08:45.clinging on. Surely has to go? He's clinging on because he has the
:08:46. > :08:51.support of the overwhelming majority of members. You did not even consult
:08:52. > :08:58.your CLP. You consulted the committee of your CLP. Friends and
:08:59. > :09:03.colleagues. To me, one thing I agree with, this is a massive moment for
:09:04. > :09:07.the country, and the duty of MPs should be to represent the country
:09:08. > :09:11.and not the party. They should have woken up on Friday morning and asked
:09:12. > :09:15.themselves, how do I get rid of Jeremy Corbyn? -- shouldn't have.
:09:16. > :09:18.The Labour Party needs to be communicating through its members
:09:19. > :09:23.and unions with our people to calm things down and give messages of
:09:24. > :09:28.solidarity to the Polish community in your constituency. To the black
:09:29. > :09:32.people and Muslims who have been racially abused. I thought Jeremy's
:09:33. > :09:36.speech was brilliant in the Commons. Were you one of the people who
:09:37. > :09:41.sniggered? Were you one of the people who sniggered behind him?
:09:42. > :09:52.What difference would that make? Did you shout resign? What Paul Mason is
:09:53. > :09:57.saying... Those questions do not deserve an answer. I have been
:09:58. > :10:03.supportive of Jeremy. I said nothing at all. I made my own contribution
:10:04. > :10:08.in the statement. No, I disapprove of any behaviour of that kind, of
:10:09. > :10:13.course. I have huge respect for Jeremy. He has been a friend of mine
:10:14. > :10:17.for 30 years. I agree with him on many have not most policy issues. So
:10:18. > :10:24.don't make silly accusations like that. I asked your questions. That's
:10:25. > :10:28.my question. People do not believe Jeremy Corbyn can win the election.
:10:29. > :10:34.The Labour MPs who have resigned do not believe he can win the general
:10:35. > :10:39.election. Hang on. My question is, if they don't believe he can win a
:10:40. > :10:43.general election and we are still in a parliamentary democracy, and a
:10:44. > :10:46.party has to be led by someone who can actually come and have the
:10:47. > :10:52.authority and support of their MPs, it is over? I think Jeremy can win
:10:53. > :10:59.the election. This is the reason why. The Blairite wing, which is yet
:11:00. > :11:03.to show its hand... Let me finish. The Blairite wing is coordinating
:11:04. > :11:08.this. They are raising money right now for a candidate. They believe
:11:09. > :11:11.that Jeremy can win. They moved on Friday morning in a long planned
:11:12. > :11:16.move because they believe... They thought they had a couple of years
:11:17. > :11:21.to get rid of him. Then -- they now don't. It is logical to move against
:11:22. > :11:26.him. There will be people in the centre-right of the party would be
:11:27. > :11:30.like the tethered goat 's. You need to think about what you are doing.
:11:31. > :11:34.This is blood-letting in the Labour Party. This is what is going to
:11:35. > :11:38.happen. John McDonnell claimed there were 10,000 people in Parliament
:11:39. > :11:45.Square. I thought there were about 5000. John McDonnell was
:11:46. > :11:51.exaggerating, basically? By the time I was there it looked bigger. What
:11:52. > :11:55.do you say to those people who did elect Jeremy Corbyn? What do you say
:11:56. > :12:01.to them that you have always drawn your support? I have said already
:12:02. > :12:04.that Jeremy did get a majority vote last year and I did not vote for
:12:05. > :12:08.him. But I was absolutely prepared to give him a fair wind in relation
:12:09. > :12:13.to this. I think that is what I have done. In 30 years, I am very
:12:14. > :12:16.uncomfortable doing this. I have never talked publicly about the
:12:17. > :12:20.internal affairs of the Labour Party. But I think this is a time of
:12:21. > :12:26.national crisis. The government is giving no leadership at all. Cameron
:12:27. > :12:30.has walked away. We have to be responsible. We are a major national
:12:31. > :12:34.political party, the voice for poorer people in this country. We
:12:35. > :12:39.have to be giving leadership. That undermines your claim this is an --
:12:40. > :12:44.a Blairite orchestrated campaign. Andy Slaughter is not of that wing.
:12:45. > :12:48.Scores of MPs have withdrawn their support. There were claims that
:12:49. > :12:51.night -- last night that a lot of the banners at the rally were
:12:52. > :13:00.Socialist workers party banners. They were not Labour Party members.
:13:01. > :13:04.I think they were in the few hundreds. I don't think all of them
:13:05. > :13:09.were there. I made a pub full of Aslef train drivers. What people
:13:10. > :13:13.have to remember is that the Labour movement has massive social capital
:13:14. > :13:17.in this country. And Aslef train driver can bring ten, 15, 20 other
:13:18. > :13:22.people from a working-class community. That same kind of person
:13:23. > :13:27.can walk into a pub or club in one of these Ukip supporting places and
:13:28. > :13:31.face up to racism and bigotry. Our movement is full of people who can
:13:32. > :13:36.actually command the respect of and have a dialogue with the British
:13:37. > :13:46.people at this point. There is no candidate. If there was a candidate
:13:47. > :13:49.would that make it more viable? On the Labour leadership was there has
:13:50. > :13:53.to be a candidate. Who is that candidate going to be to We will
:13:54. > :13:58.find out after the ballot. There are a number of people in the PLP would
:13:59. > :14:02.make a very good Prime Minister. I'm going to wait and see who the
:14:03. > :14:08.runners and riders are. So anybody except Jeremy? It is not a case of
:14:09. > :14:12.anybody but Jeremy Corbyn in terms of Andy Slaughter, because he
:14:13. > :14:17.supported him. There is a sense of betrayal by Jeremy Corbyn in the
:14:18. > :14:23.referendum campaign, that he was a reluctant Remainer, that perhaps he
:14:24. > :14:28.did not even vote to remain. Do you accept that? People like Alan
:14:29. > :14:37.Johnson have said very strongly... He ran the Labour campaign. He said
:14:38. > :14:44.he did not have the support. Our ability to keep people was
:14:45. > :14:49.sabotaged. The Remain and reform, I would have said revolt, against
:14:50. > :14:53.Europe, that argument, I think, kept several percentage points of Labour
:14:54. > :14:59.people from going over to the other side. We don't know how visceral and
:15:00. > :15:03.the and this Leave thing was. It was not all that bunch of racists. It
:15:04. > :15:11.was not all a bunch of Ukip members. Many of our own people did. We did
:15:12. > :15:15.keep some people to vote Remain. Through gritted teeth. Do you think
:15:16. > :15:19.that would be a sense of betrayal? Would those MPs be justified who
:15:20. > :15:24.felt they lost the referendum because nobody knew the Labour
:15:25. > :15:27.message? Does not about that. Alistair Darling stood up with
:15:28. > :15:34.Osborne and threatened a punitive budget on Britain. Osborne resile
:15:35. > :15:38.from it yesterday. How does Jeremy Corbyn feel, having said this was
:15:39. > :15:42.the wrong thing to do? I think he is vindicated.
:15:43. > :15:44.The joke's doing the rounds this morning that if we're looking
:15:45. > :15:48.for a man to take us out of Europe, then former England manager
:15:49. > :15:52.But do our political leaders have any idea what the UK's exit
:15:53. > :15:58.This morning, in response to the result of last week's
:15:59. > :16:00.referendum, the European Parliament is meeting for an emergency sitting
:16:01. > :16:07.MEPs will vote on a non-binding motion, setting out the Parliament's
:16:08. > :16:12.position on how things should proceed from here.
:16:13. > :16:14.EU Commission President Jean-Claude Juncker and council representatives
:16:15. > :16:22.And it's expected the Parliament will urge the UK to invoke
:16:23. > :16:24.Article 50 immediately, to avoid "damaging uncertainty".
:16:25. > :16:26.That sets the clock ticking, giving the UK two years
:16:27. > :16:30.Then later this evening, the European Council will hold
:16:31. > :16:32.a regularly scheduled meeting of all 28 leaders -
:16:33. > :16:35.no doubt, now to be dominated by the UK's decision to leave.
:16:36. > :16:38.But tomorrow, David Cameron will find himself left out in the cold,
:16:39. > :16:40.when the remaining leaders meet informally to discuss what to do
:16:41. > :16:52.Speaking in the European Parliament this morning, the President
:16:53. > :16:54.of the European Commission, Jean-Claude Juncker,
:16:55. > :16:56.urged the UK "clarify its position on Brexit as soon as possible".
:16:57. > :16:59.He also has some stern words for Ukip MEPs, after he was
:17:00. > :17:16.We must respect British democracy, and the way it has voiced its view.
:17:17. > :17:20.That is the last time you are applauding here.
:17:21. > :17:36.And to some extent, I am really surprised that you are here.
:17:37. > :17:41.You were fighting for the exit, the British people voted
:17:42. > :17:50.Well, earlier I spoke to the German Chrisitan Democrat
:17:51. > :18:04.I asked what should happen now many 2 British negotiations.
:18:05. > :18:06.If it is today or tomorrow, that is not the question,
:18:07. > :18:10.but if it lasts very long, I think that a lot of member states
:18:11. > :18:12.are fed up with this kind of cherry picking,
:18:13. > :18:18.They want that the Government decides, they want the British
:18:19. > :18:23.Government is deciding in the next days or weeks, but not trying
:18:24. > :18:29.to delay the decision and to try negotiating in back rooms,
:18:30. > :18:37.There aren't no better conditions, the conditions are clear,
:18:38. > :18:41.and if Great Britain wants to leave, and we respect the referendum
:18:42. > :18:43.here in the European Parliament, it is a democratic decision,
:18:44. > :18:53.but the British Government has to decide about Article 50.
:18:54. > :18:55.So there could be a situation where Great Britain in negotiations
:18:56. > :18:57.could ask to have access to that single market,
:18:58. > :19:00.despite what was said in the campaign, and unlike Norway
:19:01. > :19:06.and Switzerland, avoid freedom of movement?
:19:07. > :19:10.I am absolutely sure that there is no cherry picking possible.
:19:11. > :19:13.So here in the Parliament, it was very, very clear
:19:14. > :19:18.that the Parliament is fed up with this kind of cherry picking.
:19:19. > :19:21.We would like to have the advantages but no disadvantages.
:19:22. > :19:23.We would like to have the rights but no obligations.
:19:24. > :19:27.We would like to have the money, but no payments.
:19:28. > :19:30.So this is not possible, so if Great Britain wants to have
:19:31. > :19:35.something of the European Union, then they have to give something.
:19:36. > :19:38.So the normal rules in the European Union,
:19:39. > :19:42.but to try always to have something special for Great Britain,
:19:43. > :19:49.Great Britain is a member of European Union or leaves
:19:50. > :19:51.the European Union, and if Great Britain wants something
:19:52. > :19:53.of the European Union, then they have to give
:19:54. > :20:02.And the Conservative MP and former Cabinet Minister, Owen Paterson,
:20:03. > :20:07.who campaigned for Leave joins us now.
:20:08. > :20:13.Welcome to the daily politics, no cherry picking you can't have your
:20:14. > :20:16.cake and eat it. No special treatment, Britain or the Leave
:20:17. > :20:19.campaign humiliated people from other member states during the
:20:20. > :20:24.referendum campaign, you are not going to get the deal you want. Well
:20:25. > :20:28.I think everybody has to understand that Leave means Leave. We have this
:20:29. > :20:32.massive vote, the biggest majority anybody has had in British history
:20:33. > :20:36.so 1.3 million have voted to Leave. That means we will leave the
:20:37. > :20:40.political arrangements and we made it clear throughout, all the
:20:41. > :20:44.referendum campaign, we want to have a new relationship based on trade
:20:45. > :20:47.and co-ofration, they have our neighbours have a massive surplus
:20:48. > :20:53.with us, that I have a huge interest in coming to a deal, we have had the
:20:54. > :20:58.head of the German CBI says he doesn't want arrangements that
:20:59. > :21:01.affect the German car industry, there are one million Germans...
:21:02. > :21:06.There will be no special treatment. Do you now accept, now that Britain
:21:07. > :21:09.has voted to leave and we had discussions before the actual poll
:21:10. > :21:13.if wow want access to single market as part of the trade deal you want
:21:14. > :21:18.to make, you will have to accept some form of freedom of movement?
:21:19. > :21:23.No, I don't accept that. You don't? Everybody we have spoken to has said
:21:24. > :21:30.you will not get that deal. You must have freedom of market. The CSU was
:21:31. > :21:36.wrong when she talked about members of the EEA, there is art 1.1.2 which
:21:37. > :21:40.allows members to restrict... They don't want to give it to you.
:21:41. > :21:44.Liechtenstein they respected the fact they couldn't have an unlimited
:21:45. > :21:48.influx and they got an arrangement. They are not going to do that for
:21:49. > :21:51.Britain? Why not. We are the fifth economy in the world. We are a huge
:21:52. > :21:54.player, they have to respect a massive vote by the British people.
:21:55. > :21:59.We said there would be a British option. Right. Do you agree or is
:22:00. > :22:03.Monica right? One of the reasons this little difficulty in the Labour
:22:04. > :22:06.Party is so frustrating this is what British politicians should be
:22:07. > :22:09.discussing right now. I think in order to calm the market, most
:22:10. > :22:14.people don't realise what the danger is, we should be put fog bar ward,
:22:15. > :22:20.any of the Tory candidates should be committed to a request. You are
:22:21. > :22:25.right, that under the EEA, there is an emergency break procedure for...
:22:26. > :22:30.The European economic area, of which Norway and Switzerland are a part,
:22:31. > :22:34.because they are two of the country. It would signal we want to remain
:22:35. > :22:38.part of the single parenting and we are prepared toing inniate on how we
:22:39. > :22:41.apply free movement. That could be a cross-party position, it could calm
:22:42. > :22:44.the market, I wish the Labour Party was in a position to discuss it. You
:22:45. > :22:49.are though, you should do it. Are you in a position? Who is in charge?
:22:50. > :22:53.Well the Prime Minister is in charge. He is resigning. He said he
:22:54. > :22:55.won't do anything with the negotiations. You are right. The
:22:56. > :23:00.there is cross-party agreement on this. I talked to a senior MP. Who
:23:01. > :23:04.is in charge, answer my question, at the moment? The Prime Minister said
:23:05. > :23:08.he is resigned. We will have a new Tory Prime Minister soon. There is
:23:09. > :23:11.no-one in charge at the moment. Oliver Letwin is doing the
:23:12. > :23:17.preparations. There won't be a White Paper. This is in flux. There is a
:23:18. > :23:22.flux period. I talked to a senior Labour MP who was a strong supporter
:23:23. > :23:26.of Leave. He had good ideas last night on immigration. Which I
:23:27. > :23:32.thought was good, there are sensible people in the Labour Party working
:23:33. > :23:37.on this. We know huge votes in Hartlepool, 71%, Birmingham, we know
:23:38. > :23:42.and I had people covered in builders dust outside the polling stations
:23:43. > :23:45.who are absolutely understand the need for managed immigration, but
:23:46. > :23:50.they understand we cannot go on building one house every six
:23:51. > :23:55.minutes. You wouldn't give up on managed migration to get a
:23:56. > :24:00.favourable trade deal No. Dan Hannan said that he would, and he thinks
:24:01. > :24:05.that is is what will happen I think he has been misinterpreted. He said
:24:06. > :24:10.clearly, I am saying what he said. Zero immigration, it is not going to
:24:11. > :24:13.happen. No-one has ever talked about zero immigration, that is childish.
:24:14. > :24:18.Some people think it is going to start now and migrants are going
:24:19. > :24:21.home. Talked about this when I was talking to farmer, I said we need to
:24:22. > :24:25.have managed immigration for the skilled people who used to come in
:24:26. > :24:32.to pick fruit and vegetables because they are skilled and good at it. We
:24:33. > :24:36.need skilled eye surgeons to come in and proper managed immigration,
:24:37. > :24:40.nobody has said we will stop it. Tens of thousands. Migrants play a
:24:41. > :24:46.key role in the economy. OK, but let. Hang on, the point as everyone
:24:47. > :24:51.has, is beginning to dawn on them, the success of the referendum we had
:24:52. > :24:56.a civilised debate although some of the stupid incidents attacking Poles
:24:57. > :24:59.are totally unacceptable. Is that not what has happened as a result.
:25:00. > :25:04.Happening on. I want to finish the point. Finish the point The
:25:05. > :25:08.projectionions are we will have a population by 71 million. That means
:25:09. > :25:14.a new house every six minute, that is not realistic. Let us go on do
:25:15. > :25:19.your point you raised the point of racist incidents when you accuse
:25:20. > :25:23.Project Fear, Project Fear about the pound slumping about credit rating
:25:24. > :25:26.agencies downgrading Britain, pension annuity rates are down.
:25:27. > :25:30.Infrastructure projects are put on hold and there have been reports of
:25:31. > :25:35.racist incidents, was that your plan? No, was it the BBC's plan to
:25:36. > :25:39.overhype the hysteria on this? Hang on, hang on. I am asking you a
:25:40. > :25:43.legitimate question about where we are now, I am asking you was that
:25:44. > :25:48.your plan? It wasn't Project Fear, it has come true? Of course it
:25:49. > :25:53.wasn't. You have moved into project hysteria, with we know major players
:25:54. > :25:58.in the city took a huge punt on Remain and they got it wrong. Now we
:25:59. > :26:04.are seeing the bank shares coming up, the FTSE come up, the pound come
:26:05. > :26:08.up, and all this is being massive, it is irresponsible. One point we
:26:09. > :26:13.should make to Jean-Claude Juncker, is while we are here, and until the
:26:14. > :26:21.treaty is changed, nothing has changed in law, we are full
:26:22. > :26:25.participant, all the rules of, all the treaties remain intact. Owen
:26:26. > :26:31.said we are in a state of flux. Not economy economically. At the moment
:26:32. > :26:38.few you look a the indicator, is it project hysteria or is it coming
:26:39. > :26:43.true? The The short-term hit on Friday was short-term. There more
:26:44. > :26:47.people think we are going to join the EA, the long-term issue is this,
:26:48. > :26:52.serious economists are saying we will lose the capacity to grow. One
:26:53. > :26:56.part of our capacity to grow was to import people from east Europe. That
:26:57. > :27:01.is part of George Osborne's growth plan, beyond that, if car company,
:27:02. > :27:06.finance companies move, that debt will be member youred against a
:27:07. > :27:09.smaller economy, and then we are in quite big trouble. We will have to
:27:10. > :27:12.move on. We only have half an hour. Stay with us, because we should have
:27:13. > :27:16.a new Conservative leader by the begin of September. That is the
:27:17. > :27:20.timetable that has been proposed by the 1922 Committee. Nominations will
:27:21. > :27:22.close on Thursday so who will roll up their sleeves and walk through
:27:23. > :27:27.the door? Boris Johnson is the obvious
:27:28. > :27:30.candidate, but there are a number Jeremy Hunt is on manoeuvres -
:27:31. > :27:33.he's written an article in the Telegraph calling
:27:34. > :27:36.for a second referendum once Britain has negotiated its withdrawal
:27:37. > :27:38.from the EU. Work and Pensions Secretary Stephen
:27:39. > :27:40.Crabb is understood to be teaming up with Business Secretary Sajid Javid
:27:41. > :27:43.for a joint campaign, and it's being reported in the press
:27:44. > :27:45.this morning that Theresa May is emerging as a
:27:46. > :27:47.potential favourite. Others who could throw their hat
:27:48. > :27:50.into the ring include Liam Fox, Nicky Morgan, Andrea Leadsom
:27:51. > :27:52.and Dominic Raab, although one person who's definitely ruled
:27:53. > :27:54.himself out is the one time He's written in the Times this
:27:55. > :27:58.morning that he believes he is "not the person to provide
:27:59. > :28:08.the unity my party needs". Who will roll up their sleeves and
:28:09. > :28:13.walk through the door? Who is your favourite? Let us see who puts hair
:28:14. > :28:17.hat in the ring tomorrow. I will support someone who has committed
:28:18. > :28:23.themselves to leave the European Union. Liam Fox, Boris Johnson? It
:28:24. > :28:26.has to be, we have to have the country led by someone with a clear
:28:27. > :28:31.commitment to leave the political arrangement of the European Union,
:28:32. > :28:35.and set up a new relationship based on trade and cooperation. Even those
:28:36. > :28:40.who campaigned for Remain will respect the will of the British
:28:41. > :28:44.people They will be harpooned by the fact they voted to Remain We have to
:28:45. > :28:48.have someone with a clear commitment to leave the European Union. If we
:28:49. > :28:55.don't, the whole political class is discredited. Yes or no Boris
:28:56. > :28:57.Johnson. Aagree. We are out of time. Thank you to you, bye.