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Siobhain McDonagh, the Labour MP, says M&S workers are due to face an effective pay cut because of the “national living wage”.
Earliest I've ever seen Cameron come in for #PMQs, before 11.45am
Cameron says he does not know about the situation at M&S. But he wants to see pay go up, not down. M&S won’t attract good staff if they cut pay.
11.59am BST
12.32pm BST
11:59
12:32
This is from the Labour MP Tom Blenkinsop.
Cameron says we will enhance the power of Britain by staying in the EU.
The body language of Cameron and Grayling on the front bench at the moment can only be described as both fascinating and awkward #pmqs
12.31pm BST
11.58am BST
12:31
11:58
Alasdair McDonnell, the SDLP MP, says the SDLP is backing a Remain vote. The return of a hard border with Ireland would be bad for Northern Ireland.
So many MPs wearing IN or OUT badges in the commons chamber for #pmqs - it's becoming more of a question why someone ISN'T wearing one!
Cameron says is the UK votes to stay in, we know what the situation is. If we were to leave, and make a big issue about borders, then there would be a land border with the EU in Ireland. You would need new border controls between Ireland and Northern Ireland. Or you would have to have controls on people leaving Northern Ireland and coming to the mainland. We can avoid these risks by voting to stay, he says.
11.57am BST
12.29pm BST
11:57
12:29
#PMQs @ 12 -q Remainy order paper, tho Speaker calling outers: My panel: @GiselaStuart @andreajenkyns @joannaccherry pic.twitter.com/MzaHJFGSJy
Robert Jenrick, a Conservative, says his parents set up a manufacturing business. Manufacturers are worried. They will have to sell to the EU, but they won’t have a say in deciding EU standards.
11.56am BST
Cameron says Jenrick is making a v good point. If you leave the EU, and don’t have say over making those rules, you lose control; you don’t gain control.
11:56
12.28pm BST
Cameron's already in the chamber for #PMQs, glasses on, scrawling on his notes
12:28
11.56am BST
Labour’s Ruth Smeeth says EU funds have helped her constituency. Does Cameron agree that a Brexit vote would leave us picking up the pieces of a broken economy for years to come.
11:56
Cameron agree. The UK would have to spend two years leaving the EU. Then it would have to negotiate a trade deal, with could take seven years. So overall it could take a decade to get a new trade deal.
Cameron at PMQs
He says the potteries industry would be affected by tariffs that would be imposed.
PMQs starts in five minutes.
12.25pm BST
There is no PMQs next week, so it is quite possible - given the rise in support for Leave in the polls - that David Cameron may have announced his resignation by the time he next faces Jeremy Corbyn across the despatch box in the Commons.
12:25
11.53am BST
Labour’s Carolyn Harris says leaving the EU would be too big a risk.
11:53
Cameron says he agrees. If the pound were to fall, prices would rise and the cost of holidays would rise.
Nigel Farage has tweeted this about Bob Geldof.
12.24pm BST
Multimillionaire Bob Geldof on the Thames mocking our declining fishing industry and families who have had their lives destroyed by the EU.
12:24
11.49am BST
David Nuttall, a Conservative, asks when the government will get net migration below 100,000.
11:49
Cameron says EU migration was in balance last in 2008. He says the government has introduced sensible ways of reducing immigration. Leaving the EU would not be a sensible way, he says.
Robert Booth
12.22pm BST
Bob Geldof has pulled alongside Farage’s boat and blasted “I’m In With The In Crowd” over a rig of four ear bleedingly loud speakers before taking the mic and declaring: “Nigel, you are a fraud.”
12:22
The Leave campaigners tried to shout back: “shame on you” but were drowned out.
Cameron says we need to ensure migrants are working. But we should celebrate the contribution they make.
Geldof attacked him as “no fishermans’ friend” as Farage stood at the prow of his boat facing the other way talking to Kate Hoey, the Labour leave campaigner.
12.20pm BST
Geldof’s sonic assault successfully drowned out Farage’s broadcast interviews.
12:20
11.46am BST
PMQs - Snap verdict:
11:46
PMQs - Snap verdict: A peculiar PMQs, in some respects more interesting than usual, and perhaps most remarkable because Cameron seemed uncharacteristically hesitant and unfocused. Is the pressure getting to him? It would be very odd if it isn’t, although Cameron was only unfocused relative to his usual suave professionalism. It is not really a day for normal party politics and Corbyn responded to that with a series of sharp, reasonable questions that did him credit, but did not go in for the kill. His best line was the one branding the 57 Tory MPs who are opposing George Osborne as converts to anti-austerity. Cameron enjoyed that - perhaps because he has little else to smile about at the moment.
Q: 57 Tory MPs have effectively expressed no confidence in you. Would you be around to pass these measures?
12.14pm BST
Osborne says measures like this would have to be passed. He says the only thing worse than not taking action would be not taking action. People need to know this, he says.
12:14
Q: Would Labour MPs back plans like this?
Corbyn asks about the flotilla coming up the Thames. He says EU reforms gave new powers to member states over fishing quotes. The UK government has given two thirds of them to just three companies.
Darling says one of the reasons Labour MPs are fighting for Remain so far is that they precisely want to avoid having to take choices like this.
Cameron says the value of the UK fishing industry has increased in recent years. No country in the world has a trade agreement with the EU that does not involve a tariff on fish.
And that’s it. The Osborne/Darling press event is over.
Corbyn says the government still handed quotas over to just three companies. With just eight days to go until the referendum, Labour will be voting remain. He says Labour would oppose any post-Brexit austerity budget. Will Cameron condemn the opportunism of 57 of his MPs who voted for austerity measures but who have now have a Damescene conversion to anti-austerity.
11.44am BST
Cameron seems to laugh before he gets up. He says on this he and Corbyn agree. When he and Corbyn agree, that really says something. Votes have consequences. If we vote out, there will be less tax receipts. We would need to address the hole in the public finances. There is only one thing worse than addressing a hole in your public finances, and that is by not addressing it. We can avoid that by voting Remain, he saus.
11:44
12.09pm BST
Osborne announces his proposed Brexit budget
12:09
The Osborne/Darling event is now on BBC News.
Corbyn says he is concerned about the expoitation of migrant workers. Will Cameron commit to outlawing agencies advertising jobs only abroad?
Q: Are you sacrificing your job to win the referendum?
Cameron says he and Corbyn agree on the evils of modern slavery. The government will continue to take action to ensure that people are paid what they should be paid. He wants people to get a fair day’s pay for a fair day’s work.
Osborne says this is not about one politician and his career. This is about the future of our country. What is the point of getting involved in public life if you do not fight for what you believe in?
Corbyn says Cameron did not answer the question. What communities need is practical solutions, like the migrant impact fund. Will Cameron agree it is a mistake to abolish that. And will he reinstate it?
Darling says the impact of a Brexit vote would last for years. The government would have to face up to the consequences of this and take some “pretty unpleasant action”.
Cameron says the government is looking to see if it can ban firms only advertising jobs abroad. The answer to many of these problems is to create new jobs. He says the government has a pledge in its manifesto to create a controlled migration fund. It agrees that it needs to take action to address the pressures created by immigration.
Q: How quickly would you have to introduce these measures?
12.06pm BST
Within the next couple of months, says Osborne.
12:06
He says the government would have to show the world it had a serious plan for addressing these problems.
Jeremy Corbyn also offers sympathy to the relatives of those killed in Orlando. He attended a vigil to express his horror on Monday, he says.
Q: Would Labour support these measures?
He says three years ago there was agreement for implementation of Section 40 of the Crime and Courts Act. Cameron said three years ago MPs did too much cosying up to Murdoch. Will Cameron keep his promise and implement Leveson in full.
Darling says MPs would have to take difficult choices.
Cameron says the government will decide about the second stage of Leveson when all prosecutions are underway. He has met victims. People can accuse him of many things, but not cosying up to Murdoch, he says.
The exact choices would be a matter for the chancellor of the day.
Corbyn says he asked about Cameron meeting phone-hacking victims. He says the Leave leaders pretend to be saviours of the NHS. Wasn’t Sarah Wollaston right to criticise them?
But there is no one who could avoid the consequences of this.
Cameron says he is glad Wollaston changed her mind. He says he thinks the NHS will be stronger if the UK stays in the EU.
If you create a mess, you have to clear it up. Far better not to create a mess in the first place.
Updated
11.40am BST
at 12.17pm BST
11:40
Robert Booth
The Brexit debate has taken to the waves. As we wait for Nigel Farage to join a flotilla of fishing vessels campaigning for Brexit by sailing upstream to the Palace of Westminster, a smaller fleet of Remain campaigners have embarked on vessels to come alongside, I think that’s the nautical term, and shout them down. Farage’s flotilla of about six vessels tethered near the north bank of the Thames near London Bridge l were just buzzed by the Sarpedon pleasure cruiser stuffed with black flag waving and jeering In campaigners and followed by more on a couple of inflatable ribs.
11.37am BST
11:37
This is what Alistair Darling, the Labour former chancellor, has been saying at the Brexit budget event with George Osborne.
Darling says conventional party politics is "on hold" until next Thurs, saying the vote will determine Britain for a generation
Economic security and social justice go hand in hand, Darling says, that's why Labour is backing this
(Darling clearly has not seen what John McDonnell has said this morning - see 10.36am.)
Beyond doubt that Brexit would tip UK back into recession, Darling says. Look at what is happening in the real world.
Once you light a blue touch paper on the economy, you can't be sure where it will end up, but an explosion will follow, says Darling
I'm even more worried now, much more worried than in 2008, says Darling pic.twitter.com/FTCkCoGxYB
This would not be the only emergency budget, Darling says, says he suspects it would be first of many after #Brexit
11.33am BST
11:33
Rolls-Royce has written to its staff saying it wants Britain to stay in the EU.
Here’s the Guardian’s story.
Related: Rolls-Royce backs remain in EU vote
And here is Angela Eagle, the shadow business secretary, commenting on it.
This is yet further evidence of the benefits membership of the largest single market brings to British workers and businesses. Nine out of ten economists agree that Britain is better off in and that a vote to leave the EU is a threat to jobs and the economy.
Rolls-Royce is a world-leading engineering company and employs 23,000 staff in the UK. This letter to staff makes clear that the uncertainty of a vote to leave the EU would be unsettling for the company.
11.28am BST
11:28
And back to the Osborne/Darling announcement.
Of Brexit and Black Holes. @George_Osborne at Hitachi pic.twitter.com/JV7JaLfG70
11.27am BST
11:27
More from the flotilla wars. This is the scene from Bob Geldof’s boat.
And here is Steven Woolfe, Ukip’s financial affairs spokesman, on George Osborne’s proposed pro-Brexit budget.
If George Osborne thinks he will still be chancellor in the event of a Brexit, he is living in cloud cuckoo land.
His conduct during this campaign – culminating in Project Fear’s nuclear bomb today – has been nothing short of disgraceful. Given this fact, his threat to hold a punishment emergency budget which promises tax rises and extra austerity should be treated with the contempt it deserves.
11.21am BST
11:21
As George Osborne announces his hyphothetical Brexit budget, Tory MPs continue to criticise him.
This is from Owen Paterson, the former environment secretary, who is one of the 57 Tory MPs who has said they would vote against Osborne’s plans.
The Remain campaign have reached panic stations. They have lost all the major arguments and have now resorted to scaring the British people. They are taking us for fools.
If the Chancellor thinks he could pass such a punishment budget through the House of Commons he is utterly delusional. I wouldn’t hesitate about voting against it.
11.18am BST
11:18
Here’s another extract from the Brexit budget.
Osborne's Brexit budget says Britain would not be able to 'grow its way out of this problem' pic.twitter.com/AzIbWkFWE9
