Financial Services Industry

Part of Exiting the European Union – in the House of Commons at 12:00 am on 27th April 2017.

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Photo of Matthew Pennycook Matthew Pennycook Shadow Minister (Exiting the European Union) 12:00 am, 27th April 2017

Last month, the Secretary of State confirmed to the Brexit Select Committee that exiting the European Union on World Trade Organisation terms would mean an end to passporting rights. Does the Minister agree that that would be catastrophic for our financial services sector and all those who work in it? If so, does he agree that no deal is not a viable option for the financial services sector?