War cabinet must unite behind UK services industries

Ahead of the next meeting of the Government’s Brexit ‘war cabinet’, industry is calling on Ministers to end division and uncertainty and unite to deliver a deal which supports the UK’s globally leading goods and services industries.

Speaking on behalf of UK-based financial and related professional services industry, which accounts for one in 14 UK jobs, £14 in every £100 of UK tax receipts, and has an export surplus greater than all other UK industries combined, Miles Celic, Chief Executive Officer, TheCityUK, said,

If the UK is to secure an ambitious deal which delivers for our economy and for the EU27, it must be one that includes all our leading industries such as financial and related professional services, the creative industries and high-technology. It is through these industries that a global Britain will thrive beyond Brexit. A deal that only covers goods because it is expedient or easy is not good enough – it would not be a deal that is ambitious for Britain or recognises the economic realities of the 21st century.

“An agreement based on the principle of mutual regulatory recognition is the way to deliver the best possible Brexit. It allows for a close trading relationship between the UK and EU, while also giving both sides the freedom to decide their own path to achieving shared goals. The stopwatch is ticking down – it is vital that the cabinet pulls together and unites behind these ideals.”