Are these the same economists who were called experts we shouldn’t listen to? All I will say, if you look at the history of the pound, it was worth over $4 at the end of the second world war, it’s worth about $1.20 now, it’s moved downwards continually, and what I’m saying is that the likelihood is it’ll continue in that direction. Whilst the economy’s had that short-term bounce that devaluation gives us, the movement out of our main export market, if that happens, will have a severe effect on the British and Welsh economies.

Whilst devaluation means that small tariffs will not be insurmountable—though, if I listen to Andrew R.T. Davies, small tariffs will be insurmountable, but assuming that they’re not insurmountable—it is the non-tariff barriers, meeting European standards, and being checked that you do, which could involve partial dismantling so that items have to be rebuilt on arrival—. Why did I say that? Ask the Japanese, when they were exporting to France and the French did exactly that. They dismantled their goods and then they had to be reassembled again.

Many colleagues will have spoken, and I’m sure that more will, regarding the environmental benefits and employment benefits of the European Union, and the importance of keeping those benefits. I concur entirely with that. We should not be losing the benefits we’ve got.

I’ve got another concern about people who want free trade deals with us. It’s almost like picking off the weakest. New Zealand want to undercut Welsh lamb, the USA and others want to undercut Welsh beef, China wants to undercut Welsh manufacturing, including steel—do you think the Welsh manufacturing industry would survive a free trade deal with China and China’s capacity to dump goods on any country in the world? The Chinese have used their economy in such a way, and we’ve seen what’s happened with steel already with Chinese dumping. We need to ensure that we look after our own industries.

I could go on about the problems, but I’ll end on a positive note. We can deal with the internal company transfer pricing within the European Union that avoids British corporation tax, the old double Irish or the movement of money around Europe through the free transfer of capital. Will those people who are in favour of us coming out of Europe want to deal with that?

Contracts specifying local applicants only can be made and the need to advertise across Europe will disappear. Will people be supporting that? We can use tariffs to protect key industries, because, if we trade with Europe on world trade conditions, they will have to do the same with us. We can also ensure that the free movement of labour ends and we stop unscrupulous employers bringing in cheap labour—some being paid, effectively, under the minimum wage—to undercut wages, terms and conditions. My argument is not with eastern European workers who are being exploited; it’s with the employers exploiting them and using them to attack wages, terms and conditions of Welsh workers.

In conclusion, we are leaving the European Union. We need to protect our environment and workers’ rights. We voted to come out of the European Union, not to be poorer either as individuals or as a country.