I rise to speak in favour of amendment 348 and new clause 21. The vote to leave the European Union was an unanticipated shock to the UK economy that increased uncertainty and reduced our country's expected future openness to trade, investment and immigration with our neighbouring partners, the EU. The pound depreciated by approximately 10% immediately after the referendum. The depreciation raised inflation by increasing import costs of both final goods and intermediate inputs. Today, according to Citibank analysis, long-run inflation expectations are up to 3.3%, but by June this year the Brexit vote was costing the average household £7.74 per week through higher prices. That is equivalent to £404 per year. Higher inflation has also reduced the growth of real wages; that is equivalent to a £448 cut in annual pay for the average worker. To put it another way, the Brexit vote has already cost the average worker almost one week's wages owing to higher prices-and we have yet to leave the EU. Amendment 348 refers to impact assessments. We need clear impact assessments to ascertain how such things as well as hard-fought workers' rights, shared values and environmental protections will be safeguarded. Several promises were made. Post Brexit, UK Governments will be expected to fulfil the promises made during the referendum campaign. Immigration was, without doubt, a major reason for the result, but at least half of immigrants to the UK every year are from south Asia, Africa and the Caribbean, and they are unaffected by EU laws. It would also be difficult to reduce the number of EU citizens in the UK unless there was a misguided programme to expel them and the UK was prepared to countenance similar expulsions of its citizens from the continent. The challenge will be not how to limit in-flows-something that featured so prominently in the leave campaign-but rather how to sustain the much needed flows of EU nationals to fill jobs in sectors such as agriculture, services and construction, an industry I have been involved in for over two decades.