Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, if she will take steps to negotiate closer cooperation with the Swiss financial services industry.

The Department for Business and Trade is negotiating an enhanced Free Trade Agreement with Switzerland that will deepen UK-Swiss financial services ties and provide long-term certainty and greater market access for UK-Swiss services trade, which was worth £27.1 billion in the 12 months to June 2023. This will be complementary to the Mutual Recognition Agreement in Financial Services, which HM Treasury is negotiating with the Swiss Finance Ministry, the agreement remains on course to be signed before the end of the year.