David Davis says financial services must be included in EU trade deal

Britain will seek to ensure financial services are included in its future trade deal with the European Union, David Davis said today.

The future of the financial sector's access to EU markets has come under question after Brexit negotiator Michel Barnier suggested services will not be included in a free trade deal.

Read more: Davis: No Brexit deal "massively less probable" as he's cleared of contempt

However, Davis has said he will not allow any "cherry picking" from the EU.

Writing in the Daily Telegraph, Davis said: "We are looking at the full sweep of economic cooperation that currently exists and determining how that can be maintained with the minimum additional barriers or friction.

"I do not believe the strength of this cooperation needs change because we are leaving the European Union, so as long as it is understood that this involves working together, not simply rule taking. These principles can be applied to services trade too."

City groups have slammed Barnier's approach, saying the EU will not benefit from hurting the UK's financial services sector. The City of London Corporation has said businesses and families benefit from integrated financial markets, and that fragmentation will increase costs for firms.

Full story: David Davis says financial services must be included in EU trade deal: City A.M.

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