Gibraltar Chronicle Logo
Local News

Brexit would restrict financial services sector – UK Govt

EU and UK flags fly above the EU Commission offices in Westminster, London. David Cameron is making final efforts to bolster support for his proposed European Union reforms before a crunch summit. PRESS ASSOCIATION Photo. Picture date: Wednesday February 17 2016. Photo credit should read: Stefan Rousseau/PA

The absence of ‘passporting’ would present challenges for the financial services sector in the event of a UK withdrawal from the EU, according to a new report published by the British Government yesterday.

The finding, part of a much wider document, focused on the impact on the UK financial services sector, but its implications are relevant here too.

The paper - which looks at arrangements adopted by countries including Norway, Switzerland and Canada as well as the option of falling back on World Trade Organisation (WTO) rules - warns that none is as good as the deal on offer with Brussels.


Most Read

Local News

Cyclist rescued in Upper Rock

Local News

Veterans restore Lord Airey’s Battery

Download The App On The iOS Store