Exiting the EU: New Partnership

Rishi Sunak Excerpts

Thursday 2nd February 2017 Commons Chamber

[Mr Davis]

As the great repeal Bill will pass through European law—the acquis communautaire—in its original wording, it might refer to European institutions when it should refer to British institutions. For example, it might say that local government has to publish its procurement contracts in the Official Journal of the European Union, which would no longer be appropriate—it would be more appropriate to publish them on the Government website. Secondary legislation will be principally aimed at such technical concerns. Major areas of policy change will primarily be addressed in primary legislation, which is why we cited those two examples.

[Rishi Sunak (Richmond (Yorks)) (Con)]

I very much welcome my right hon. Friend’s constructive approach. In that light, I draw his attention to a report by the European Parliament’s Committee on Economic and Monetary Affairs, which highlighted European businesses’ financial reliance on the City, expressed concern if that access were to be disrupted and urged negotiators to approach the issue in a constructive and open fashion.

[Mr Davis]

And we fully intend to do so, as we think it is in the interests of both ourselves and the European Union, because we do not want anything that causes instability in the eurozone, any more than we want anything that damages the City.