UK Relations with EU

Department for Exiting the European Union written question – answered on 2nd August 2017.

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Photo of Lord Blencathra Lord Blencathra Conservative

Her Majesty's Government, what is their assessment of the reported comments made by the City of London’s special representative to the EU, Jeremy Browne, that the government of France is seeking the weakening of Britain and the City of London; and what action they are taking to ensure that EU member states maintain good relations with the UK and the City of London following Brexit.

Photo of Baroness Anelay of St Johns Baroness Anelay of St Johns Minister of State (Department for Exiting the European Union)

We are going to make the most of the opportunities that leaving the EU presents. We recognise that the City is a global centre of excellence in finance, corporate law and insurance, which EU companies will wish to continue to access. We will be aiming to maintain the City's leading position as one of the key centres of global finance.

The government is keenly aware of the importance of the financial services sector to the UK economy. The government has set out its intention to pursue a bold and ambitious free trade agreement with the European Union, and for that agreement to be of greater scope and ambition than any such agreement before it so that it covers sectors crucial to our linked economies such as financial services.

Our focus is on working closely with our EU partners to negotiate a successful outcome and the best deal for the UK and the EU. We are confident that such an outcome is in the interests of both sides.

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