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house id	2
answer › date of answer	2019-01-21
answering dept sort name	Treasury
uin	HL12602

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member printed

question first answered

answering member


label

tabling member


label

1036960

registered interest

date

07/01/2019

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Financial Services

house id

legislature

25277

pref label	House of Lords

question text

To ask Her Majesty's Government what assessment they have made of the analysis conducted by the EY financial services Brexit Tracker, published on 7 January, which states that financial services companies have moved approximately £800 billion of assets to Europe; and what assessment, if any, they have made of the impact of such asset moves on the UK financial services sector post-Brexit.

tabling member printed

Lord Taylor of Warwick

uin

HL12602

answer

is ministerial correction

date of answer

21/01/2019

answer text

We remain committed to preserving our competitive position in financial services after the UK has left the European Union. Firms that are using the EU “passport” to serve clients recognise that further steps to legal certainty remain, and are taking the sensible step of carrying out contingency planning with respect to their operations in the UK and elsewhere in Europe for the event that no deal is reached with the EU. We have successfully agreed commitments for working towards a future framework with the EU on financial services and both sides intend to take decisions on granting equivalence at least 6 months before the end of the Implementation Period. The Government’s long-term economic analysis sets out the impact of the UK’s White Paper position on the financial services sector.

answering member printed

Lord Bates

question first answered

21/01/2019 15:34:11

answering member

1091

label	Biography information for Lord Bates

tabling member

1796

label	Biography information for Lord Taylor of Warwick