Leaving the Eu: Financial Services

Part of the debate – in the House of Commons at 1:40 pm on 3 November 2016.

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Photo of Stephen Timms Stephen Timms Labour, East Ham 1:40, 3 November 2016

My hon. Friend is making a very important case. If the Government get this wrong and we lose substantial financial services business, is not the likelihood that that business will go to New York? New York has the capacity to take it on and already has the equivalence agreement in place.