Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of the value of tax incentives to cushion the transition to a no-deal Brexit in financial services should that occur.

The Government is committed to pursuing an ambitious and comprehensive economic partnership with the EU. A no deal outcome is neither desired nor expected. However, a responsible government should prepare for all potential outcomes, including the unlikely scenario in which no mutually satisfactory agreement can be reached. Plans are well developed and have been designed to provide the flexibility to respond to a negotiated agreement, as well as preparing for the unlikely eventuality of leaving without a deal.