David Davis moves to reassure City over Brexit fears

Posted On: 
15th November 2017

Major financial firms will still be able to shift staff in and out of the UK smoothly after Brexit, David Davis reassured the City last night.

David Davis insisted the clout of the UK when it comes to financial services will not be diminished by its exit from the bloc
Credit: 
PA Images

The Brexit Secretary moved to reassure global banks in a private speech at the London headquarters of Swiss bank UBS last night.

Big businesses and lobby groups have raised concerns about the working of “intra-company transfers” after Brexit – but Mr Davis suggested they have nothing to fear.

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“We want to ensure that our new partnership with the EU protects the mobility of workers and professionals across the continent,” he said.

“Whether this means a bank temporarily moving a worker to an office in Germany or a lawyer visiting a client in Paris, we believe it is in the interests of both sides to see this continue.”

Meanwhile he insisted the clout of the UK when it comes to financial services will not be diminished by its exit from the bloc.

“It would simply not be possible to recreate, or duplicate, another leading financial centre in Europe,” he argued.