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860913

	registered interest
	date	13/03/2018
	answering body	Department for Exiting the European Union
	answering dept id	203
	answering dept short name	Exiting the European Union
	answering dept sort name	Exiting the European Union
	hansard heading	Service Industries: UK Trade with EU
	house id	1
	legislature	25259 pref label House of Commons
	question text	What estimate the Government has made of the value of the UK’s financial and professional services to the EU.
	tabling member constituency	Gloucester
	tabling member printed	Richard Graham
	uin	904384
	answer	answer is ministerial correction date of answer 15/03/2018 answer text <p>The ONS estimates that the UK exported £27bn of financial services to the rest of the EU in 2016, as well as £23.7bn of professional services such as legal services and management consultancy.<br><br>We will be seeking a bold and ambitious free trade agreement between the United Kingdom and the European Union. This should be of greater scope and ambition than any such agreement before it so that it covers sectors crucial to our linked economies, such as financial and professional services. We believe that such a deal is in both the UK and the EU’s shared economic interest.</p> answering member constituency Worcester answering member printed Mr Robin Walker question first answered 15/03/2018 13:55:27 answering member 4091 label Biography information for Mr Robin Walker
	tabling member	3990 label Biography information for Richard Graham

947124

	registered interest
	date	23/07/2018
	answering body	Department for Exiting the European Union
	answering dept id	203
	answering dept short name	Exiting the European Union
	answering dept sort name	Exiting the European Union
	hansard heading	Service Industries: UK Trade with EU
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of whether they will be able to secure a trade deal on services following Brussels rejecting the "enhanced equivalence" model proposed on the Brexit white paper.
	tabling member printed	Lord Taylor of Warwick
	uin	HL9814
	answer	answer is ministerial correction date of answer 22/08/2018 answer text <p>In its White Paper the Government is advancing a detailed proposal for a principled and practical Brexit, including in financial services.</p><p> </p><p>The UK proposes a new economic and regulatory arrangement with the EU in financial services. This would maintain the economic benefits of cross-border provision of the most important international financial services traded between the UK and the EU.</p><p> </p><p>We have also listened to the other side’s concerns and understand the need for a new and fair balance in our rights and obligations in relation to financial services. As such, our proposal recognises the EU’s desire to have control over its own decision making but it also reflects the deeply integrated nature of UK and EU financial markets.</p><p> </p><p>We have suggested how this could be done, by setting out that the new arrangement should include provisions for:</p><ul><li><p>common principles for the governance of the relationship;</p></li><li><p>extensive supervisory cooperation and regulatory dialogue; and</p></li><li><p>predictable, transparent and robust processes.</p></li></ul><p> </p><p>We believe this proposal is the best option for getting a good deal for both the EU and the UK, and we look forward to discussing it with them.</p><p><strong> </strong></p> answering member printed Lord Callanan question first answered 22/08/2018 13:06:16 answering member 4336 label Biography information for Lord Callanan
	tabling member	1796 label Biography information for Lord Taylor of Warwick