Barclays boss says UK finance sector will dodge Brexit bullet

Daniel Fowler
July 26, 2018

Unsurprisingly, the government has also talked down Gurr's vision of how the United Kingdom would fare being outside the political bloc, with a spokeswoman telling The Guardian: "Where is the evidence to suggest that would happen?" During his evidence, Mr Raab insisted there were "no tensions" as he gave evidence to MPs alongside Mrs May's top aide Olly Robbins - who has just been handed more powers.

Mrs May confirmed on Tuesday that she had taken personal charge of the negotiations, with Mr Raab "deputising" for her in Brussels.

"We will look at this issue in the round and make sure that there's adequate food supplies", Raab said.

Speaking outside Parliament in London after the British Irish Intergovernmental Conference, the Tanaiste said a no-deal Brexit is not in British or Irish best interests, but he remains confident a deal will be reached.

Dominic Raab is in Brussels again today, with the European Union increasingly concerned about the lack of progress being made.

"I don't think there is any Brexit proposition that can command a majority in the House of Commons".

It comes as former Trump adviser Steve Bannon and pro-Brexit campaigner Nigel Farage discuss plans to form a new right-wing movement to take advantage of the government's problems.

"I think there are huge opportunities for us".

Dominic Raab and Michel Barnier
Image Dominic Raab watched the EU's chief negotiator reject the UK plan

Labour's shadow health minister Justin Madders said: "We need a Brexit deal which puts patients first but now we know that the NHS is having to stockpile medicines because of this government's chaotic handling of Brexit".

"What I am not going to do is allow us to cower in the corner, afraid of our own shadow, about the potential that that energy and that ambition and that principle and that pragmatism isn't reciprocated on the other side".

Mr Raab acknowledged that the Chequers plan struck a balance between the UK's ability to diverge from the European Union and the need to protect trade and address the Irish border issue.

The EU has so far opposed any attempts to modify equivalence and said it has no plans to reform the regime.

The European Union late last week dealt a major blow to the UK's financial services sector in the lead up to Brexit, after negotiators rejected the plans for the sector laid out by the British government in Prime Minister Theresa May's controversial white paper.

One of the key questions in the Brexit process is how much detail about the future relationship - including the crucial issue of financial services - will be pinned down before the United Kingdom leaves.

"I can't remember legislation which has needed such great revision and amendment before the relevant parts have even come into force", he told MPs.

The EU has also agreed to a post-Brexit transition period in which Britain would effectively remain a member of the bloc until the end of 2020, to ease the break.

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