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Britain’s “bespoke” Brexit deal for the City could stop firms moving to Europe and the US

3 27 0
14.09.2017

Britain’s chancellor threw a lifeline to the financial services sector last night (Sept. 13) in a speech that suggests that the industry could get special treatment after Brexit. It’s a big deal for the City, after all, dozens of banks and businesses have been vocal about how they are looking to relocate or expand operations in Europe and US, to counteract a “hard Brexit.”

In addition to the speech, Chancellor Philip Hammond said he would work on a “bespoke” deal with the EU for the City of London and that a transitional deal would be “integral” to ensure that Brexit happens smoothly.

The services sector makes up around 80% of the UK economy and........

© Quartz