Brexit white paper: 'UK and EU won't have current levels of access to each other's markets'

May backs down on mutual regulatory recognition

Mike Sheen
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Theresa May and President of the European Commission Jean Claude Juncker
Image:

Theresa May and President of the European Commission Jean Claude Juncker

The government has backed down from its calls for mutual regulatory recognition post Brexit and will now push for a deal that will see UK and EU financial services firms' access to each other's markets scaled back when the country leaves the bloc.

In its long-awaited Brexit white paper, published on Thursday (12 July), the government called for "new economic and regulatory arrangements for financial services", which it argues would "preserve the...

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