TheCityUK has responded to comments made by the EU's chief negotiator which suggest financial services may not be covered by a future trade deal.
Miles Celic, Chief Executive Officer, TheCityUK, said,
It might be Christmas, but Michel Barnier doesn’t need to play Scrooge. Just because financial services have not been encompassed in free trade agreements to date is no reason to dismiss them from a future UK/EU free trade agreement. Services make up around 80% of the UK’s economy – and around 70% of the EU’s, with financial services making up a significant component of that. It is vital for the future competitiveness of the UK, and Europe as a whole, that UK and EU negotiators work to secure an ambitious and comprehensive deal.