EU Exit Negotiations

Stephen Hammond Excerpts

Tuesday 5th September 2017 Commons Chamber

[Mr Speaker]

Order. May I just gently point out to the House that colleagues who beetled into the Chamber after the statement started should not now be standing and expecting to be called? To put it mildly, that is bad form, and I would have thought that the person guilty of it would know it and desist.

[Stephen Hammond (Wimbledon) (Con)]

May I thank my right hon. Friend for his statement, and for the opportunity he gave Members of this House to spend many pleasurable hours during the recess reading position papers? The position paper on customs largely fails to mention financial services in any way. Given that the sector is our biggest tax raiser and represents 45% of our exports, will my right hon. Friend confirm to the House the Government’s ambitions for customs arrangements in financial services? Have they yet been raised in the negotiations, and does he intend to publish a position paper on those arrangements?

[Mr Davis]

The answer to the last part of the question is: not immediately. The financial services sector is clearly an important part of the free trade agreement we want to achieve. Customs primarily apply, of course, to physical goods. We are very clear in our minds that financial services are a massively important part of the negotiation. My hon. Friend should be in absolutely no doubt about that.