A fairly robust and optimistic speech by Theresa May today nevertheless leaves the door ajar on the Customs Union. Stressing that certain sectors may require different arrangements, she did not drill down into any detail of how this might work.
Nothing defined then as yet for our Financial Services sector which is such an important contributor to our economy, but perhaps some light in the tunnel.
The Chancellor, Philip Hammond, provided a more stalwart stance this weekend. I assume that this provided a backdrop to her speech.”
She continued “London will continue to be the focus of global financial services and we will continue to attract the best talent in the world. Paris, Dublin, Frankfurt and – even – Malta, may wish to display their wares but they do not have the infrastructure nor the Capital Markets to vie with us. Our international, diverse and vibrant city will continue to attract the best in the world and a ‘clean’ Brexit, creating a ‘Global Britain’ will open up new sources of talent whom we will welcome.