Question to the Department for Exiting the European Union :

What assessment the Government has made of the effect on the UK economy of the (a) European Medicines Agency and (b) European Banking Authority relocating from London to other EU countries.

The decision to relocate the Agencies was one for the EU27.

We have consulted with industry and discussed issues specifically relating to the EBA and EMA as well as other issues and opportunities relating to the banking and life sciences sectors.

As part of the negotiations, we will discuss how best to continue cooperation in the fields of medicines and banking regulation.

And we are determined to ensure the life sciences sector continues to thrive and the UK’s leading position in financial services is maintained as we leave the EU.