Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on the confidence of the UK financial services sector in (a) London, (b) the rest of England and (c) Wales of no agreement being reached between the UK and the EU on the UK leaving the EU.

Financial services firms across the UK can have confidence that the government is committed to leaving the EU in a way that underpins prosperity and avoids unnecessary disruption and dangerous cliff edges for businesses across the UK.

We are making significant progress and this has been well-received by industry. Since December, we have reached agreement with the EU on an implementation period, we have agreed a technical dialogue on cliff edge risks to be led by the Bank of England and the European Central Bank and the Chancellor has set out a clear vision for our future relationship with the EU on financial services.

These measures have been well-received by industry in the UK. We continue to work closely with businesses located throughout the United Kingdom to ensure that they are prepared for a smooth and orderly withdrawal from the EU.