Asked by: Baroness Quin (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have, if any, to undertake a study of the impacts to date of Brexit on the London Stock Exchange.
Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)
The government does not intend to review the impacts of Brexit on the London Stock Exchange.
The UK is Europe’s leading hub for investment, and London continues to be the only European hub in the top ten of the Global Financial Centres Index. The government is committed to building on these strong foundations to make the UK the global capital for capital.
Leaving the EU provides the freedom for the UK to tailor financial services regulation to UK markets, including through the government’s Smarter Regulatory Framework programme. Under the programme, assimilated law is being replaced by a regulatory framework tailored to the UK that will benefit businesses and consumers alike.
The government is taking forward an ambitious programme of reform to improve the competitiveness of UK markets. This includes overhauling the UK’s Prospectus Regime to create a simpler and more effective regime than its EU predecessor, delivering on a key recommendation of Lord Hill’s Listing Review. Legislation to deliver this reform was laid on 27 November 2023.