:00:18. > :00:26.My large ladies and gentlemdn, after a speech like that, I'd feel like
:00:27. > :00:31.going back and sitting down. -- Lords. I would like to say welcome
:00:32. > :00:34.to Bournemouth. Welcome to Lr Cameron's retirement party.
:00:35. > :01:14.APPLAUSE .
:01:15. > :01:22.Let us consider some of the threats we faced. From George Osborne
:01:23. > :01:30.warning us of spending cuts, tax rises, an emergency budget hf there
:01:31. > :01:34.was a vote Leave. David Camdron it it is deeply concerning that the
:01:35. > :01:42.Leave campaign is criticising the bank of England. We should listen to
:01:43. > :01:48.experts. When they warned us of the dangers of leaving the European
:01:49. > :01:54.union. The former Attorney General told Newsnight that the votd Leave
:01:55. > :01:59.blueprint would lead to a chaotic departure. Britain is stronger in
:02:00. > :02:05.Europe. Believe campaign do not want to listen to economic experts. The
:02:06. > :02:14.all agree that leaving the DU would break our economy and hammer family
:02:15. > :02:20.finances. On the 23rd of June, we can put our faith in economhc
:02:21. > :02:26.experts across the globe, or take a leap in the dark with the Ldave
:02:27. > :02:32.campaign. Now Wall Street b`nks eat their words on Brexit. JP Morgan and
:02:33. > :02:43.Morgan Stanley warned of an economic slump on the leaderboard. These
:02:44. > :02:52.U-turns came as sterling rose above $1 34 to be pound very time since
:02:53. > :03:00.mid-July. The OECD said the vote to Leave would be a major negatives
:03:01. > :03:05.shock to the UK economy. Now it says the outlook is far brighter than it
:03:06. > :03:09.predicted. By the way, a former bank of England deputy governor says
:03:10. > :03:16.economic forecasts should bd taken with a pinch of salt. The UK economy
:03:17. > :03:20.is still growing. Where are the doom laden predictions of Cameron,
:03:21. > :03:25.Osborne and most of the bankers s Cameron said the Leave vote would
:03:26. > :03:32.put a bomb under the economx and on top of it, as I recall. Osborne
:03:33. > :03:36.predicted a do-it-yourself recession. Morgan Stanley predicted
:03:37. > :03:45.a slowdown rather than a Brdxit depression. Economists predhcted a
:03:46. > :03:47.sharp slowdown. It was predhcted the FTSE index would crash more than a
:03:48. > :04:03.fifth, it is up by more than 11 . The bankers are wrong about Brexit
:04:04. > :04:08.and were wrong about ending boom and bust and were wrong about the 2 08
:04:09. > :04:13.crisis. Even our Chancellor, or former Chancellor, seems to have
:04:14. > :04:21.missed all of his budget forecasts over the years. Unlike home, most of
:04:22. > :04:25.the bankers still have their jobs. The Remain claim that leaving would
:04:26. > :04:32.make everyone for a thousand ?3 0 worse off. Where on earth dhd that
:04:33. > :04:38.figure come from? Former Prhme Minister Gordon Brown said Labour
:04:39. > :04:44.would get an extra ?35 millhon funding from the EU if we Rdmain.
:04:45. > :04:54.Another method. The economy continues to grow. -- myth. Exports
:04:55. > :04:58.are up and investment plans are up. Retail is up and 27 countrids have
:04:59. > :05:00.approached us already for trade deals. How wrong can these dxperts
:05:01. > :05:11.be? APPLAUSE
:05:12. > :05:26.Even the numbers on the dold are up, sorry, down. I will read th`t again.
:05:27. > :05:32.Even the numbers on the dold fell. We can meet for the 3 million job
:05:33. > :05:44.losses the roosters forecast. What about the 5 million jobs thd EU will
:05:45. > :05:48.lose. Two major overseas banks have both reiterated their intention to
:05:49. > :05:49.open new headquarters officds and trading floors in London.
:05:50. > :06:05.APPLAUSE Even the head of advertising giant
:06:06. > :06:12.and a fervent Remain supporters says his global company is benefhting
:06:13. > :06:19.from a post Brexit recovery and the lower pound makes our exports more
:06:20. > :06:26.competitive. All these Remahn scarce remind me of the Remain man on
:06:27. > :06:27.Westminster Bridge who saw `nother man on a parapet about jump into the
:06:28. > :06:30.river. He grabbed the man by the ankles
:06:31. > :06:33.and asked him what he was The man mumbled something
:06:34. > :06:36.about recession, trade barrhers economic disaster and war
:06:37. > :06:40.if the voters believe. The Remain man asked in to calm down
:06:41. > :06:43.and tell him all A vote to Leave surely could not
:06:44. > :06:54.be as bad as all that. Five minutes later
:06:55. > :06:56.they both jumped off the Without Nigel's inspiration`l
:06:57. > :07:12.leadership, none of Let us also not forget
:07:13. > :07:25.those who founded And held Ukip together
:07:26. > :07:37.for all those years in We owe gratitude to
:07:38. > :07:44.Nigel and all of you May I add to the chairman
:07:45. > :07:55.of Express Newspapers Daily Express for his
:07:56. > :08:10.support for many years for the beliefs that we as
:08:11. > :08:14.Ukip hold. Even though I am the deputy
:08:15. > :08:19.chairman of Express, unpaid, I only received one grumpy call
:08:20. > :08:30.from Nigel during the whole campaign, which I
:08:31. > :08:32.thought was pretty good. Let us not forget that in electing
:08:33. > :08:35.a new leader after a very strong leader, there m`y be
:08:36. > :08:38.disgruntled members who seek to One only needs to look
:08:39. > :08:54.at what happened in the Conservative Party after
:08:55. > :08:57.Margaret Thatcher was forced out. It had a succession of leaddrs
:08:58. > :09:02.who were unable to establish their atthority
:09:03. > :09:04.and it disappeared into the Let us rally round our
:09:05. > :09:11.new leader, whoever There might still be
:09:12. > :09:17.an early election if the Prime Minister cannot gdt her
:09:18. > :09:21.programme approved by parli`ment. However, we should not be
:09:22. > :09:26.frightened by an election. I do not really understand
:09:27. > :09:35.what we are talking about. We now have, thanks to Cameron
:09:36. > :09:38.changing the law, a five-ye`r parliamentary term
:09:39. > :09:39.and an early election can only be called if
:09:40. > :09:44.the House of Commons resolves that this
:09:45. > :09:47.house has no confidence in Her Majesty's Government,
:09:48. > :09:49.or if the House of Commons with the support of two thirds
:09:50. > :09:51.of the total membership resolves that there should be
:09:52. > :09:54.an early parliamentary election Looking at the state
:09:55. > :09:57.of the Labour Party, Difficult as an early electhon
:09:58. > :10:18.is, we must be ready. With our increased support
:10:19. > :10:21.in the country, we must takd the opportunity to review
:10:22. > :10:26.and revise our rule book is needed. This must include revisiting
:10:27. > :10:28.the role of the NEC, who have done much
:10:29. > :10:42.valuable unpaid work. In my opinion, a small group of
:10:43. > :10:45.say, six should be formed bx the new leader to make recommendations
:10:46. > :10:47.to you, the members. Be magnanimous in victory
:10:48. > :10:58.and gracious in defeat. Sadly, many of the Remainers seem
:10:59. > :11:05.unable to accept the result. I feel like asking
:11:06. > :11:07.them to a funeral to When you think that
:11:08. > :11:10.one and a half million Remain, out of a record number
:11:11. > :11:19.who voted, you have to ask, do they If at the last election
:11:20. > :11:21.20,000, yes, 20,000 voters, in the most marginal
:11:22. > :11:25.Conservative seats had instdad voted for the runner-up, the Consdrvatives
:11:26. > :11:31.would have lost over 20 seats and Is that marginal enough
:11:32. > :11:35.to call another general We are not Brussels, when a country
:11:36. > :11:48.votes against the Lisbon Treaty they ask them to keep
:11:49. > :11:51.on voting until they vote in favour. There were two organisations vying
:11:52. > :11:54.for the official designation in the The winner getting a Governlent
:11:55. > :11:58.grant and raise and spend I was on the board of
:11:59. > :12:11.Go Movement with Nigel and the The Cabinet ministers
:12:12. > :12:15.joined the vote Leave. A committee was formed
:12:16. > :12:28.in Parliament by vote Leave, Like many large committees,
:12:29. > :12:32.it did not seem to achieve a great deal except to be
:12:33. > :12:35.not the least bit interested in my suggestion that we should all work
:12:36. > :12:38.together with Ukip, which I thought Without Nigel and Ukip,
:12:39. > :12:44.there would never have been a Sadly, even the Government
:12:45. > :12:53.did not want my help As far as the campaign
:12:54. > :13:01.was concerned, when we got onto the subject of immigration
:13:02. > :13:08.we were in danger of losing. The vote Leave campaign
:13:09. > :13:10.did not want to Even amongst a group
:13:11. > :13:18.supposedly working together, one of us
:13:19. > :13:25.was described by one MP on the Vote Leave side as
:13:26. > :13:26.toxic. Well, toxic enough to get
:13:27. > :13:31.17.5 million votes. It is not racist to talk
:13:32. > :13:33.about the problems of mass 700,000 gross a year,
:13:34. > :13:43.this is the figure to concentrate on, inaccurate as it may be,
:13:44. > :13:49.when you consider more insurance numbers are granted
:13:50. > :14:01.to non-UK citizens a year. The No campaign, deploying
:14:02. > :14:07.Obama, forgot to consider The EU has not agreed
:14:08. > :14:13.a single one of the 27 The transatlantic trade invdstment
:14:14. > :14:27.partnership, plus that treaty threatened a Pandora's box
:14:28. > :14:30.of corporate law suits. The US desire for health
:14:31. > :14:36.countries should be able to sue those governments in order
:14:37. > :14:40.to participate or get compensation. Therefore, under that agreelent
:14:41. > :14:56.could have been by advised. Think how much easier
:14:57. > :14:59.it will be for one country, the UK, to
:15:00. > :15:01.negotiate trade deals. After all, Norway did it
:15:02. > :15:02.in Deploying Tony Blair, Tony Blair,
:15:03. > :15:10.Gordon Blair, and every Tom Dick and Harry,
:15:11. > :15:13.was counter-productive. We know for example,
:15:14. > :15:18.one of the major contributors to the CBI
:15:19. > :15:21.in money terms is the EU. Government of the bank of England,
:15:22. > :15:26.claiming the forecast beford and after the vote help to
:15:27. > :15:28.steady the ship and meant the effects were not as bad
:15:29. > :15:36.as they might have been. I am only a Cambridge
:15:37. > :15:39.economist, I could not get From my experience, a quartdr
:15:40. > :15:51.point cut in interest few bonds does not make
:15:52. > :15:55.a difference to anything. How could such a minor gesttre
:15:56. > :15:58.have an effect One might ask why are
:15:59. > :16:11.we cutting interest rates in the first place just as
:16:12. > :16:15.inflation is picking up? Brexit
:16:16. > :16:17.will not cause a loss In mind all the doomsters forecasts,
:16:18. > :16:20.all of the major indicators of
:16:21. > :16:22.the vote is remarkable. The bank created the impression that
:16:23. > :16:25.exiting would Why did they not say before
:16:26. > :16:34.that this disaster could be avoided by a quarter point
:16:35. > :16:38.cut in interest rates? What a terrible shame
:16:39. > :16:48.that both did not remain independent
:16:49. > :16:52.and above the fray. We were not greatly
:16:53. > :16:59.concerned with project fear. Cameron and company
:17:00. > :17:01.having won, thought they We made mistakes too, but wd had
:17:02. > :17:15.you on the ground and the whole As they say, you cannot win
:17:16. > :17:18.a war without boots on Remainers were so busy fiddling
:17:19. > :17:22.around Westminster that May I just add, never
:17:23. > :17:35.underestimate an opponent, especially a swivel-eyed blhnkered
:17:36. > :17:39.loon and a fruit cake. There have been lots
:17:40. > :17:57.of suggestions of where after Brexit, ranging
:17:58. > :17:59.from here to Albania, Switzerland
:18:00. > :18:02.but the doctor may the best option, to avoid all the endless prdssure
:18:03. > :18:04.groups, as to either to declare the UK a free
:18:05. > :18:07.trade area or join the World Trade Let us pause on Germany
:18:08. > :18:27.for a moment. We hear allsorts of scare
:18:28. > :18:30.stories about trade after The previous Speaker but it
:18:31. > :18:38.extremely well. An excellent report
:18:39. > :18:41.from Barclay bank, Germany trade surplus with the UK
:18:42. > :18:48.is nearly 2% of their GDP. The UK is Germany's
:18:49. > :18:50.third-largest export market with Germany's exports to the UK
:18:51. > :18:55.increased by 50% from 2010 to 2 15. 8% of German goods
:18:56. > :19:00.exports come to the UK. Cars and other vehicles
:19:01. > :19:02.were Does anyone seriously believe
:19:03. > :19:11.they want trade barriers ag`inst UK But to try and satisfy everx
:19:12. > :19:25.pressure group is impossibld. The threat that many
:19:26. > :19:27.companies will be Sooner or later, people
:19:28. > :19:30.will realise that to relocate businesses to France,
:19:31. > :19:36.Italy, Spain, Greece... Turkey or even
:19:37. > :19:45.Germany presents a huge and rising risk when you look
:19:46. > :19:48.at the state of the EU. You may even have seen
:19:49. > :19:58.the statistic, the new head negotiator on EU Brexit,
:19:59. > :20:04.a man who knows his business, said that we the UK are rats
:20:05. > :20:07.leaving a sinking ship. If that is
:20:08. > :20:33.what he thinks of his obsession of the Westminster bubble
:20:34. > :20:41.to stay in the single market. trade with the rest of the DU,
:20:42. > :20:46.but single market means unlhmited immigration, all the rules
:20:47. > :20:47.and regulations... Would you mind, I'm
:20:48. > :20:56.trying to make a speech. All the rules and
:20:57. > :21:02.regulations, and the jurisdiction of the
:21:03. > :21:04.European Court of Justice. We do not want a single market,
:21:05. > :21:06.we want free trade. Our negotiating
:21:07. > :21:15.strength is much If, when we exercise
:21:16. > :21:27.Article 50, if there is no agreement, we just leave
:21:28. > :21:29.after the two years. They will fall over
:21:30. > :21:35.themselves to do a deal. And one day later we will open
:21:36. > :21:37.and finalise fairly quickly trade deals
:21:38. > :21:45.with the rest of the world. Our aim should be to turn the UK
:21:46. > :21:47.into a low-tax economy. Thanks to Brown and Osborne's
:21:48. > :21:50.fiddling, we have a tax codd which is complex and a drain
:21:51. > :21:53.on the economy. The new Chancellor keeps saxing
:21:54. > :21:56.the result of the vote is a Well, in fairness he does not
:21:57. > :22:02.seem to be the only one. One would have hoped
:22:03. > :22:14.Mr Cameron has learned from that experience,
:22:15. > :22:16.but he does not seem to have had a plan
:22:17. > :22:19.either once Gadhafi was overthrown. It has been discovered
:22:20. > :22:21.that the Government and civhl service did little or no pl`nning
:22:22. > :22:23.if the It must be fair and big bushnesses
:22:24. > :22:35.must pay that amount, but mtst Let us have a low tax and free trade
:22:36. > :22:46.economy and have it sooner. And let us get on with
:22:47. > :22:48.Brexit, either by repealing the 72 European
:22:49. > :22:50.Communities Act... Or exercising Section 50 of the
:22:51. > :23:09.Lisbon Treaty. The longer we delay, the more
:23:10. > :23:18.entrenched negotiation positions We are assuming that while we,
:23:19. > :23:26.from a zero starting position, because of the disgraceful
:23:27. > :23:29.failure of the civil servicd to make any preparations for the Le`ve vote,
:23:30. > :23:35.we have all the time in the world. Immigration is flooding in,
:23:36. > :23:37.and our opponents, the EU, And seeking to present
:23:38. > :23:44.a united front in their Why are we giving them
:23:45. > :23:54.so much time to prepare? The great British people have given
:23:55. > :23:56.the Government that instructions, get on with it and stop
:23:57. > :25:03.fiddling around. Welcome to Bournemouth. Yesterday I
:25:04. > :25:09.would have been saying welcome to sunny Bournemouth. However, on
:25:10. > :25:15.behalf of the south-west and all of our members, I would like to welcome
:25:16. > :25:17.you to the wonderful seasidd town of Bournemouth. Unfortunately our
:25:18. > :25:24.south-west German could not be with us today as he is on a well earned
:25:25. > :25:29.holiday with his wife in Canada However, I am sure he is thhnking
:25:30. > :25:35.about as this morning. Although with the time difference, I am not
:25:36. > :25:41.sure. For those who joined ts last night at the reception went to the
:25:42. > :25:45.other events, I hope there `re not too many fuzzy heads becausd we have
:25:46. > :25:51.an action packed day ahead of us today. We have some exceptional
:25:52. > :26:00.speakers, some entertaining speakers and, of course, Nigel. On the
:26:01. > :26:05.official town website it saxs, Bournemouth is a seaside resort on a
:26:06. > :26:10.sub coast of England. It is known for its seven miles of beaches,
:26:11. > :26:19.Victorian architecture and buzzing nightlife. The result is also home
:26:20. > :26:26.to Bournemouth Pier. -- resort. And activity Centre, climbing w`ll and a
:26:27. > :26:35.zip line. Looking around, I can see a couple of excited faces they are
:26:36. > :26:40.at the one of those activithes. Possibly that zip line. For those
:26:41. > :26:51.not tempted, it can be a good chance to meet up with friends in lany of
:26:52. > :26:55.the cafes at this centre. Fhnally, our new leader will be annotnced
:26:56. > :27:00.when the results of the member's ballot is declared. We must, as a
:27:01. > :27:06.party, get behind him or her. As we build on the belly solid fotndations
:27:07. > :27:16.that have been laid by Nigel and his team. -- built on the very solid
:27:17. > :27:18.conditions. 4 million votes in the last general election. We are a
:27:19. > :27:29.party on the up. APPLAUSE
:27:30. > :27:36.You will also get a chance to enjoy Nigel's final speech as leader. I
:27:37. > :27:44.know you will give him a trdmendous and well deserved reception. He is
:27:45. > :27:56.still an MEP and leader of the group in the European Parliament.