Too little trust after Brexit for equivalence to work
by Nick Smith Why would you want to be the same as a competitor? In any other walk of life – commerce, sport, romance, politics – we focus on differentiating ourselves. While having parity can be helpful in some respects, what we do better than the other person is always more important. While the UK was always a competitor while inside the EU, there was a framework to that competition. …
The UK needs to focus on equivalence where it most matters
By Shayne Halfpenny-Ray Equivalence is an often discussed and at times overestimated outcome for the UK/EU negotiations, particularly in the space of financial services. Its not inevitable, its likely not to happen, and there are huge chunks of financial services unlikely either to be equivalent or have a mechanism to ever seek such a vaunted goal. I could of course end this killjoy blog here and move on to stamping…
Shorting the City: The Tories’ Brexit deal fails the financial services industry
By Pat McFadden There was a revealing moment in the House of Commons debate on the Government’s Brexit deal. Labour MP Peter Kyle asked the Prime Minister about the absence of coverage for financial services in the deal. The Prime Minister ducked the question but said he was glad Labour was “backing the bankers”. The Prime Minister’s response summed up how the financial services sector has been viewed by much…