(6 years, 5 months ago)
Commons ChamberIt is clear that the UK cannot remain under the EU passporting regime, which is intrinsic to membership of the EU. Our objective, based on that, is to agree a new economic and regulatory partnership in financial services. The new partnership will set some binding bilateral commitments to give firms certainty and stability in respect of access to each other’s markets, while allowing the UK and the EU to maintain and exercise autonomy when it comes to regulatory decisions and rule-making.
I welcome my right hon. Friend to his position. Given the brief period he has been in post, he is giving a performance of very high calibre.
On free movement, while I accept that many colleagues share the noble position that we should not have a discriminatory system, does my right hon. Friend accept that there is a big implication for unskilled migration, because if we allow it in future, we will have to allow it from anywhere, not just the EU? Does he accept that in those circumstances, non-EU migration would inevitably rise?
My hon. Friend makes a powerful point, and that is why we take the approach that we do. We want to ensure that when we have an enhanced preferential trade relationship with a country, visas can go into the mix. That is the global practice right around the world. But it is crucial, as a matter of sound policy but also for retaining public trust in our migration system, that we have control over things people care about: the numbers of people coming here; ensuring the people coming here are self-sufficient; and making sure that if people threaten this country or commit criminal offences, they can be removed.