Oral Answers to Questions

Debate between Theresa Villiers and David Davis

Thursday 9th March 2017 Commons Chamber

[Mr Davis]

Of course my right hon. Friend is right. This is not about some arrangement to extend the discussions or the negotiations; it is about practical implementation issues that may well turn out to be in the interests of both sides, and it is in those circumstances that we would achieve them.

[Mrs Theresa Villiers (Chipping Barnet) (Con)]

Does my right hon. Friend agree that it will be important to encourage co-operation between the regulators during any transition period for financial services, to ensure that we have an orderly transition to the new arrangements with Europe?

[Mr Davis]

My right hon. Friend is absolutely right. One of the ongoing streams of work in Whitehall involves arranging to talk to the regulators, and some of those discussions have already happened. The Governor of the Bank of England has commented on the need to maintain stability after Brexit, and that will be an important part of our negotiations.

Exiting the EU: New Partnership

Debate between Theresa Villiers and David Davis

Thursday 2nd February 2017 Commons Chamber

[Mrs Theresa Villiers (Chipping Barnet) (Con)]

I urge the Secretary of State to give priority to the matters in chapter 6 of the White Paper on securing the rights of EU nationals. I have in mind a constituent who is an EU national and who has sadly been receiving cancer treatment for many years. I am anxious to be able to give her certainty as soon as possible that she will continue to have access to the NHS.

[Mr Davis]

That is part of the point of doing this. We are talking about not only residents’ rights, but the right of access to healthcare. That matters both for Europeans in Britain and for Britons abroad. I absolutely agree with my right hon. Friend.

Article 50

Debate between Theresa Villiers and David Davis

Monday 7th November 2016 Commons Chamber

[Mr Davis]

As the judgment stands, that is my understanding. Basically, the right hon. Gentleman is right. What the court said, in effect, was, “You cannot remove rights without legislative power, and to give the Government legislative power, you have to have legislation”, but remember, we are now waiting on the Supreme Court outcome, which may be different.

[Mrs Theresa Villiers (Chipping Barnet) (Con)]

Some 105 years ago it was a Liberal Government who established the supremacy of the elected over the unelected Chamber, so would it not be a scandalous state of affairs if Lib Dem peers were to use a parliamentary vote to frustrate the will of the people of this country?

[Mr Davis]

I am tempted to say that Lloyd George would be spinning in his grave.

Oral Answers to Questions

Debate between Theresa Villiers and David Davis

Thursday 20th October 2016 Commons Chamber

[Stephen Hammond (Wimbledon) (Con)]

10. What progress his Department has made in engaging with the financial services sector on the potential effect on its revenues of the UK leaving the EU.

[The Secretary of State for Exiting the European Union (Mr David Davis)]

The Chancellor and I are both determined to ensure we get the best possible deal for our financial services sector—a crucial part of our economy—and not just for the City of London but for the country more widely. Two thirds of financial services jobs are outside the capital, including 150,000 in Scotland. We are determined to ensure that this UK-wide industry continues to thrive. The Chancellor and I have met to discuss this, and, as one would expect, agree that financial services will be of great importance in these negotiations, that we must remain in a position to attract the brightest and the best in the global battle for talent, and that we will seek the best possible terms of trade for our financial services in the European market. We are also working together to maximise opportunities for financial services arising from our exit from the European Union. We have already met representatives of the financial services industry and expect to do so again as we shape our negotiating position.

[Mrs Villiers]

Will my right hon. Friend make securing agreement on a transitional period for financial services an urgent priority for Brexit negotiations to avoid the risk that firms feel they have to start making decisions to change their businesses now based on a worst-case scenario because compliance obligations mean that they cannot wait to see what the final deal will look like?

[Mr Davis]

We are seeking to ensure a smooth and orderly exit from the European Union, and it would not be in the interests of either side—Britain or the European Union—to see disruption. To that end, we are examining all possible options, as one would expect. We are approaching these negotiations in good faith and with good will towards our negotiating partners—we hope the same applies in reverse—focused on the mutual interests of the UK and the EU, including financial stability. I would say that having London as the No. 1 global financial centre sitting at the heart of the global capital markets is not just in the UK’s interest but in the European Union’s interest. I am confident that everyone will see the value of not undermining that.