Uk Chancellor Phillip Hammond has told the the industry he intends to protect the London and the UK’s positions as a financial center. He said: “It is my priority as chancellor to ensure that the UK remains the financial services centre of the world.
In his speech to the UK Finance Annual Dinner at Mansion House last night, Hammond set out his ambitions for a transition period after March 2019, “during which the UK and the EU 27 will retain access to each other’s markets, and will operate a harmonised customs arrangement”.
This would likely avoid a ‘cliff-edge’ scenario that has spooked the City and businesses across the UK.
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