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Treasury written question – answered on 18th October 2018.

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Photo of Stephen Morgan Stephen Morgan Labour, Portsmouth South

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.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Single Euro Payments AreaSEPA – 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.

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