Financial services must be protected under Brexit deal – Telegraph.co.uk

Financial services must be protected under Brexit deal – Telegraph.co.uk

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‘Hope for the best and prepare for the worst,” runs the old adage. Yet as we close in on the first anniversary of the Brexit vote, and despite yesterday’s General Election, it is still too difficult to know what outcome to hope or prepare for given the unprecedented uncertainty involved in the exit negotiations.

That is why it is more important than ever for those involved in crucial global industries, such as financial services, to call for as much clarity as possible in the months and years ahead.

Financial services occupy a premier position in the UK’s economy. The sector employs 1.1 million people, earns between £190bn and £205bn in annual revenues and generates an estimated £60bn to £67bn in taxes each year. Financial services are also not just of concern to the City of London and the South East. They are integral to many major UK cities, including Cardiff, Edinburgh, Glasgow, Leeds…

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