9th October 2018

Minister to face Lords EU committee questions on the impact of Brexit on the City

John Glen MP, Economic Secretary to the Treasury and City Minister, has been called to give evidence to the House of Lords EU Financial Affairs Sub-Committee.

Questions he is likely to face include:
• How many financial services jobs has the UK lost since the Brexit referendum?
• What are the main risks of a ‘no deal’ scenario for financial services? What actions is the government taking to mitigate these risks?
• What progress has been made on the important issue of contractual continuity?
• How is the Treasury approaching the statutory instruments (SIs) related to the on-shoring of the EU acquis? How is the industry being consulted on the drafting of the SIs?
• Why did the government abandon its previous proposals for a system of ‘mutual recognition’ with the EU in financial services?
• What are the government’s main priorities for addressing the shortcomings of the EU’s current equivalence regime?
• How will the UK’s own system for granting equivalence for other jurisdictions work?
• What is the government doing to address the City’s concerns related to data transfers and access to talent?

This evidence session will take place from 10am on Wednesday 10th October, 2018, in Committee Room 4A of the House of Lords.