Hammond – House of Lords report shows dangers of a hard Brexit to the City

Commenting on the House of Lords EU Committee’s report on financial services, Stephen Hammond MP, a supporter of Open Britain, said:

“This report highlights the serious dangers to the City and our whole economy a hard Brexit would cause. Losing passporting rights, access to the European market and the ability to recruit talent from the Continent could see businesses leaving Britain, jobs being lost, and lower tax revenues to spend on our public services.

“The Committee are quite right to highlight the importance of a transitional deal, if two years does not prove long enough to strike a deal that will protect financial services and other key sectors of our economy in which Britain is a world leader.”