The chair of the influential Treasury committee has criticised the Government’s failure to publish a paper on the future of financial services after Brexit as sending “all the wrong signals”.
The Government had previously promised to publish “sector impact assessments”, which have been repeatedly delayed.
Indeed, in November last year, Brexit minister David Davis admitted the assessments did not exist, despite being promised to parliament.
He had previously refused to release the internal studies on the impact of Brexit, but said there was analysis of 58 sectors, including asset management, banking and fintech.
Now reports have emerged that the paper on the future of financial services may never be published.
Treasury committee chair Nicky Morgan says: “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.”
Morgan adds: “Some level of clarity has been provided for numerous sectors. Financial services firms will be seriously concerned at the chronic state of uncertainty.”