Oral Answers to Questions

Margaret Ferrier Excerpts

Thursday 27th April 2017 Commons Chamber

[Mr Walker]

I am grateful for my hon. Friend’s question. Of course we welcome the engagement of so many businesses from across different sectors, including the financial sector, in making this process the greatest success it can be.

[Margaret Ferrier (Rutherglen and Hamilton West) (SNP)]

20. I hope you will indulge me for a moment, Mr Speaker. When I took my oath, you told me that my voice would be heard in this Chamber, and you have kept your word. You have been a champion for Back Benchers and I thank you for that.At the start of the week, the EU 27 firmed up their Brexit negotiating guidelines and inserted a new paragraph that states:“Any future framework should safeguard financial stability in the Union and respect its regulatory and supervisory regime and standards and their application.” Following this major blow to the Prime Minister’s unworkable plans for a hard Tory Brexit, can we expect to see a change in the Conservative manifesto?

[Mr Walker]

I welcome the hon. Lady’s question and her focus on financial stability, because, as I said in my answer to my hon. Friend the Member for Wimbledon (Stephen Hammond), we absolutely recognise the importance of financial stability for the whole of Europe, including the UK, and of reaching a deal with our European counterparts. When I met the financial services industry in Scotland to talk about these matters, it was clear on the importance of financial stability, and it was very clear on the vast importance of the United Kingdom market for Scottish financial services.