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European Union: Future Relationship

Part of the debate – in the House of Commons at 10:40 am on 27th February 2020.

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Photo of Michael Gove Michael Gove Minister for the Cabinet Office and Chancellor of the Duchy of Lancaster 10:40 am, 27th February 2020

Absolutely—financial services matter not just in the City of London, but in Edinburgh, Perth, Leeds and across the United Kingdom. It is a dynamic and growing sector and it is important that we make sure we have the right arrangements for them. We hope that the EU will report by June on the prospects for equivalency in financial services. That commitment was made in the political declaration. It did not subsequently appear in the EU’s negotiating mandate, but I am confident that by June the EU will have completed those equivalency assessments.