TheCityUK's response to a speech today by the Brexit Secretary David Davis to business leaders in Austria.
Responding to a speech today by the Brexit Secretary David Davis to business leaders in Austria, Miles Celic, TheCityUK Chief Executive Officer, said,
David Davis’ speech is a significant step forward. Our industry has worked hard to find the best possible solutions to the complex questions posed by Brexit. To hear that the UK Government has embraced mutual regulatory recognition as the best approach to frictionless trade beyond Brexit is encouraging. It reflects TheCityUK’s view that this is the most effective way to ensure that the UK and the EU can continue to access each other’s markets in the future.
“Leading the race to the top on global standards is where we should be setting our aspirations, and the EU27 should be reassured to hear that the UK is committed to this. The UK is globally recognised as a world-leading centre for regulatory expertise and supervisory standards – a national asset we should hold on to and build upon. We now look to the EU27 to respond positively to this development in the negotiations.”