Oral Answers to Questions

Richard Thomson Excerpts

Thursday 14th January 2021 Commons Chamber

[Deidre Brock (Edinburgh North and Leith) (SNP)]

What discussions she plans to have with her EU counterparts on developing the relationship on services.

[Richard Thomson (Gordon) (SNP)]

What discussions she plans to have with her EU counterparts on developing the relationship on services.

[The Minister for Trade Policy (Greg Hands)]

The trade co-operation agreement secures continued market access across key service sectors, including both professional and business services. The agreement also includes a commitment to review the services provisions with a view to making further improvements, along with a specific joint declaration on regulatory co-operation in financial services. Specifics will be taken forward by the Cabinet Office and Taskforce Europe.

--- Later in debate ---

[Greg Hands]

I have long experience in this space, having been a Treasury Minister, and there are of course advantages to the UK being able to set its own regulatory regime for financial services as the biggest financial services marketplace in Europe. I think the hon. Lady is wrong to characterise the treaty—she voted in favour of no deal—as not being good for services. There are good provisions on business travellers, excellent provisions on legal services, and very, very good provisions on digital and data. I am a little bit surprised that she is not more supportive of the deal.

[Richard Thomson [V]]

[Inaudible.]

[Mr Speaker]

You are on mute, Richard; press the button.

[Richard Thomson]

[Inaudible.]

[Mr Speaker]

Sorry, but we are going to have to move on.