Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Hammond says wants best EU deal for financial services

Published 07/09/2016, 16:27
© Reuters. Britain's new Chancellor of the Exchequer, Philip Hammond, waits to greet U.S. Treasury Secretary Jack Lew, at number 11 Downing Street in London

LONDON (Reuters) - Chancellor Philip Hammond said on Wednesday he wants the "best deal" for the financial services sector after the UK leaves the European Union.

Hammond met with top bankers and insurers to discuss issues affecting the financial services sector as Britain prepares for negotiations to leave the EU after June's referendum.

Banks are worried about losing access to the bloc's single market once Britain had left.

"I understand the scale of the potential impact leaving the EU could have for parts of the financial services industry. That is why I am determined to listen to what the industry has to say on key issues, like access to the single market," Hammond said in a statement.

"We want the best deal for trade in UK goods and services, including our world leading financial services industry... It is important Britain maintains its status as a great place for financial services," Hammond added.

© Reuters. Britain's new Chancellor of the Exchequer, Philip Hammond, waits to greet U.S. Treasury Secretary Jack Lew, at number 11 Downing Street in London

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.