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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 Stephen Hammond Stephen Hammond Conservative, Wimbledon 10:40 am, 27th February 2020

I welcome my right hon. Friend’s statement. The UK’s economy is primarily service based, and while I hear that taking back our borders means a separate treaty for fishing, which many people in coastal communities will welcome, many of my constituents are in financial services and probably represent more people than are employed by fishing in the entire UK. We have talked about taking back control of our money, so why not have a separate treaty for financial services? If not—I have heard his comments on equivalence—will he set out the Government’s position on equivalence when it comes to the derivation period?