COMMONS

Failure to publish position paper will leave firms seriously concerned

22 January 2018

It has been reported today that the Government may never publish a position paper on the future of financial services after Brexit.

Commenting on the news, Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, said:

"The failure to publish a position paper on financial services sends all the wrong signals.

Financial services will be one of the most challenging elements of the Brexit negotiations. A paper articulating a clear sense of direction, and a desired end-state, could have boosted confidence that the Government is up to the task.

Some level of clarity has been provided for numerous sectors. Financial services firms will be seriously concerned at the chronic state of uncertainty."

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