Oral Answers to Questions
Debate between Robin Walker and Geoffrey Clifton-Brown(7 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Walker
I welcome the hon. Lady’s question and her focus on financial stability, because, as I said in my answer to my hon. Friend the Member for Wimbledon (Stephen Hammond), we absolutely recognise the importance of financial stability for the whole of Europe, including the UK, and of reaching a deal with our European counterparts. When I met the financial services industry in Scotland to talk about these matters, it was clear on the importance of financial stability, and it was very clear on the vast importance of the United Kingdom market for Scottish financial services.
Geoffrey Clifton-Brown (The Cotswolds) (Con)
What assessment has my hon. Friend made of the French Government’s warnings that the City should continue to be overseen by EU regulators?
Mr Walker
We recognise the importance of regulatory oversight and mutual regulatory understanding as we move towards a comprehensive trade agreement with the European Union. One thing I have learned while doing this job is the huge respect in which UK regulators are held around the whole of Europe. I think we have some of the best financial regulators in the world.