Chancellor’s HSBC speech: financial services

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Series Details 07.03.18
Publication Date 07/03/2018
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Report and analysis of a speech by the UK Chancellor of the Exchequer, Philip Hammond, on Brexit and financial services, given at HSBC in London on the 7 March 2018.

Mr Hammond's speech follow on from the series of speeches called Road to Brexit given by a number of UK senior ministers in February-March 2018 and which culminated in a speech given by UK Prime Minister Theresa May on the 2 March 2018 called The UK's future economic partnership with the European Union. The objective of the speeches was to outline aspects of the UK's aspirations post-Brexit and, in particular, to clarify the nature of the relationship sought between the EU and itself.

The Chancellor sought to show why the Financial Services sector should be allowed by the EU to be part of any future negotiated free trade agreement with the EU. He set out 'why it is in the interest of both the UK and the EU27 to ensure that EU businesses and citizens can continue to access the UK Financial Services hub…'.

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Related Links
The Conversation, 07.03.18: Brexit: why Britain’s hopes for a special financial services deal are set to be dashed
The Independent, 08.03.18: Brexit: John McDonnell attacks Philip Hammond for offering 'special treatment' to the City in EU trade talks
The Independent, 08.03.18: EU rejects Philip Hammond’s bid to include financial services in Brexit trade deal
ESO: Find further information sources in ESO relating to Brexit and financial services
ESO: In Focus: Brexit - The United Kingdom and the European Union
Politico, 07.03.18: Philip Hammond: EU Brexit guidelines are ‘very tough’
BBC News, 07.03.18: EU trade deal must include financial services, says Hammond
The Guardian, 07.03.18: Hammond: UK could reject any Brexit deal excluding financial services

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