To ask the Chancellor of the Exchequer, whether the UK will retain its membership of the Single Euro Payments Area after exiting the European Union.

The Single Euro Payments Area – SEPA – enables efficient, low cost euro payments to be made across EEA Member States and with third-countries who meet the governing body’s third-country access criteria. SEPA represents a key enabler of trade between the UK, EU, and existing third-country members, and the government therefore intends to retain relevant EU payments law in such a way that it maximises the prospects of the UK remaining in SEPA.