View more on these topics

Govt shelves Brexit financial services paper

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.”


Govt leaves long-term customs union on table after Brexit

Remaining in a future customs union with the EU after Brexit appears to have been left on the table by the Government in correspondence between the Chancellor and the chair of an influential group of MPs. Treasury select committee head Nicky Morgan wrote to Chancellor Philip Hammond last month to clarify, among other things, evidence […]

FCA expecting passporting to continue post-Brexit

Firms and funds solely regulated in the UK by the FCA will need to give the regulator notice the day before the UK officially exits the EU if they want to benefit from a temporary permissions regime, proposed by the Government today. While an implementation period is still yet to be agreed, a statement from […]


Brexit: Number of firms announcing relocation plans doubles in 2017

This year more than double the number of companies have announced plans to relocate jobs due to Brexit compared to 2016. Last year 12 financial services firms announced that around 12,500 jobs would move out of the UK as a consequence of Brexit, but while the number of firms has risen to 26, the total […]


News and expert analysis straight to your inbox

Sign up


There are 5 comments at the moment, we would love to hear your opinion too.

  1. The first common denominator in all these missing analyses is that if there was a good news story to be published at the end of the day, the analyses would be published.

    The second common denominator is those in favour of any flavour of Brexit, really don’t care about the consequences, and in an assertive manner too.

    it is no point arguing against them. One has to persuade the floating voters at another referendum.

  2. There is not going to be another referendum.

    • There will be another referendum, at some point, if the UK does, actually, leave the EU this time around. There is no escaping the fact that the world will not continue, ad infinitum, to be as disparate as it is now and that includes Europe. So get real.
      The only proviso I would add to my assertion is that a future Government might take the country back into Europe without calling a referendum, because they are notorious for providing bad (stupid) results when people do not know all the intricacies of what they are, or aren’t voting for.
      People who voted remain knew what to expect, because they already have it and don’t think it has caused the UK many problems. People who voted leave, by and large, had no clue what to expect but still did so out of some sense of nationalism and/or dislike of foreigners, even though they will deny it. I know several of them myself and, if I do, you can bet many others have come across them as well. There is no doubt, either, that foreign powers, and money, were at work and that funds were provided to leave campaigns that broke the rules.
      The Dinosaurs won’t be around forever though.

Leave a comment