| UPDATED: 16:21, Mon, Mar 8, 2021
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Brexit negotiations with the EU started up again in mid-January, with talks on financial services. After months of wrangling, new rules for trade were finally agreed on Christmas Eve, just days before the year-end deadline. However, in a document spanning over 1,200 pages, there was very little mention of financial services: a sector which accounts for seven percent of the UK’s economy and 10 percent of its tax receipts.
| UPDATED: 11:36, Fri, Mar 5, 2021
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Earlier this month, Bank of England Governor Andrew Bailey warned the EU against mounting a raid on the City of London, saying the Old Lady will “resist very firmly” any attempt by Brussels to force financial trading worth trillions of pounds to relocate after Brexit. Amid mounting speculation that EU officials could force more financial business moves within its borders, Mr Bailey said steps forcing the relocation of euro derivatives, otherwise known as financial instruments, would
| UPDATED: 16:18, Thu, Mar 4, 2021
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Last week, Bank of England Governor Andrew Bailey warned the European Union against mounting a raid on the City of London, saying the Old Lady will resist very firmly any attempt by Brussels to force financial trading worth trillions of pounds to relocate after Brexit. Amid mounting speculation EU officials could force more financial business moves within its borders, Mr Bailey said steps forcing the relocation of euro derivatives, otherwise known as financial instruments, would repres
Britain will review a tax surcharge on bank profits as it threatens the industry's ability to compete against rivals in the United States and European Union, finance minister Rishi Sunak said on Wednesday.