Ex-corporate lawyer Nicky Morgan, head of the Treasury Select Committee of MPs, will today launch an inquiry into the finance sector and future trade agreements. The question at the centre of this exercise is: ‘whether it would be in the long-term interests of the UK to align closely with EU financial rules, or to forgo financial services trade with the EU and pursue trade with other third countries. The UK may converge, seek equivalence, or diverge from the EU’. Pity this hasn’t been the focus of the ineffective trade negotiations that have been going on for 2.5 years with Michel Barnier.
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