Government responds on Brexit report

Treasury has responded to the EU Financial Affairs Sub-Committee’s report on Brexit: Financial Services. The report, published in December, highlighted among other things the importance of agreeing a transitional period for financial services within the Brexit negotiations, so there was no cliff edge. The Government response confirms the plan to establish a relationship with the remaining EU that includes the greatest possible access to the single market, which it will aim to achieve within the next two years and with a phased implementation.