Reports today suggest the Government has agreed in principle to accept ‘equivalence’ with the EU on rules affecting financial services trade post-Brexit. This would mean the UK financial services sector following all the rules set by the EU, but without any say over them.
Commenting, Anna Soubry MP, leading supporter of the People’s Vote campaign, said:
"When is a deal not a deal? When one side concedes to the other completely and when all the important details are left until later. It's a blindfolded Brexit that leaves our businesses facing yet more uncertainty. That's what the Government's supposed 'deal' with the EU on financial services amounts to.
"Kind words about 'equivalence' will be no comfort to financial services companies based in the UK, who now face a future of following all the rules set at the EU level, but without the UK having any say in drafting them. So much for 'taking back control'. And the level of access will still be greatly inferior to what we have now.
"The Brexit deal on offer is looking worse and worse every day. That's why more and more people are calling for a People's Vote, so that the people of this country can have the final say on Brexit."