Financial Services

Treasury written question – answered at on 21 November 2018.

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Photo of Andrew Rosindell Andrew Rosindell NATO Parliamentary Assembly UK Delegation, Co Chair, British-Irish Parliamentary Assembly

To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect on the financial sector of the UK leaving the EU without a trade deal.

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

UK and EU negotiators have agreed in principle the terms of the UK’s smooth and orderly exit from the EU, as set out in the Withdrawal Agreement. We have also agreed the broad terms of our future relationship as set out in the outline Political Declaration.

We will ensure Parliament can make an informed decision and business and citizens have a clear understanding of our future relationship. The Government is undertaking a programme of analysis in support of our EU exit negotiations and preparations. The Government has confirmed that when we bring forward the vote on the final deal, we will ensure that Parliament is presented with the appropriate analysis to make an informed decision. As the Chancellor set out in his letter of 23 August to the chair of the Treasury Select Committee, the analysis will look at the economic and fiscal effects of leaving the EU.

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