UK-EU Renegotiation

Robert Neill Excerpts

Wednesday 3rd February 2016 Commons Chamber

[The Prime Minister]

I will look very carefully at that issue, but I seem to recall from conversations I had with the Taoiseach that there are particular arrangements for the common travel area. But I will come back to the hon. Gentleman on this.

[Robert Neill (Bromley and Chislehurst) (Con)]

The legal certainty that the Prime Minister referred to and the protections in the economic governance section of the document are very important to maintain the status of London as an international business and financial centre, but does my right hon. Friend agree that one of the risks to that position that would remain if this agreement were not successful would be the uncertainty of leaving a market which we can grow, improve and strengthen, and having then to try to get back into the market from the outside with uncertain cost, time and terms?

[The Prime Minister]

My hon. Friend, with his constituency, is right to talk about the importance of financial services and the City of London. We have 40% of Europe’s financial services here in the UK. The current arrangements work quite well because people can passport their way through to establish themselves in any European country, so those arguing for alternatives will have to answer some quite difficult questions about how exactly we put those sorts of protections in place.