Financial Services Reforms Debate

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Department: HM Treasury

Financial Services Reforms

Christopher Chope Excerpts
Tuesday 11th July 2023

(10 months ago)

Commons Chamber
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Andrew Griffith Portrait Andrew Griffith
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I am enormously proud of the fact that we have recently reached agreement with all the member nations of the European Union on the memorandum of understanding in respect of financial services. That joins a number of such agreements, all of which have the objective of seeking access to as many of the growing markets in the world as possible for our financial and professional services. Only last week I met my opposite number, the German deputy Finance Minister, and next week I will be meeting the Luxembourg Finance Minister.

Christopher Chope Portrait Sir Christopher Chope (Christchurch) (Con)
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By how much will today’s announcement reduce the burden of regulation on UK business? I ask that because the Government promised that there would be no net increase in the burden of regulation on business during this Parliament, but so far we are £14.3 billion in the wrong direction.