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<p>A customs union would eliminate tariff and rules of origin barriers on trade in
goods only, as they do not concern trade in services.</p><p><strong> </strong></p><p>The
Government’s ambition is to preserve the economic benefits of the most important financial
services traded between the UK and the EU, and ensure stable institutional processes
for governing the relationship in financial services. This is the best way to protect
financial stability and open markets, and is in the interests of businesses and consumers
on both sides. This ambition is reflected in the Political Declaration agreed by the
UK and the EU in November 2018.</p><p> </p><p>We remain committed to preserving our
competitive position in financial services after the UK has left the European Union.
Our industry continues to innovate and to move with the times – we have world-leading
positions in the markets of the future, including green and sustainable finance, FinTech,
and renminbi and rupee products.</p>
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