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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 Anthony Browne Anthony Browne Conservative, South Cambridgeshire 10:40 am, 27th February 2020

Before I came to this place I had a job, in the wake of the Brexit referendum, representing the banking industry in negotiations with the EU, the European Parliament, the Commission and the European Council, and in discussions with the Bank of England and the Treasury on what sort of relationship we want with the EU after Brexit. We came to realise quite quickly, as did the Bank of England—Mark Carney has spoken on this point—that, as a global financial centre, being a rule taker and having no say on our financial regulation would be a threat to the UK’s financial stability. Does my right hon. Friend agree that we have to be very careful, as becoming a rule taker would be a real threat to our financial services?