READY FOR THE NO-DEAL PATENT: the city is VERY prepared compared to the EU – financial manager –


Andrew Bailey told the select Treasury Committee that "a very broad range of mitigation actions" was "planned and executed" to protect customers in case the UK crashed outside the EU without agreement. But the CEO of the Financial Conduct Authority warned that the blockade was in a "different place" in terms of protecting EU consumers from chaos without agreements.

Speaking to the Treasury Selection Committee, the chief financial officer said: "We hope that for consumers living in the UK, the very broad range of planned and implemented mitigation actions will be able to substantially ease the position of British consumers from the point view of financial services.

"In the context of the EU at the end of this there will be consumers residing in the EU and EU citizens, but there will also be expats in the UK living in the EU and falling into that group of consumers residing in the EU.

"Obviously we are working and we are doing a lot of work with the government, but I have to tell you that they are in another place in this sense compared to the certainty that I can give you about consumers resident in the United Kingdom".

Bailey's comments precede a five-day debate on Theresa May's Brexit affair that kicks off today in the House of Commons.

The Prime Minister will invite MPs to support his agreement on Brexit, which has had to face the main criticisms of the entire political divide.

Ms. May should say to the ministers: "The British people want us to go ahead with an agreement that honors the referendum and allows us to come together as a country, whatever our vote.

"This is the agreement it offers for the British people".

And Ms. May's allies, including Chancellor Philip Hammond, Foreign Minister Jeremy Hunt, and Interior Minister Sajid Javid, should ask MPs to support the agreement.

Ministers are ready to vote on the controversial agreement of December 11th.

But Ms. May's government has faced intense criticism of accusations of contempt for Parliament, refusing to publish the entire legal guide provided to the Brexit agreement ministers.

The MPs will discuss the issue today that threatens to become a crisis after the spokesman for the communes John Bercow admitted that there was a "questionable case that a contempt was made".

A group of inter-party ministers called for Mrs May to release legal advice.

Attorney General Geoffrey Cox insisted it was in the public interest that the guide remained confidential.

However, Brexiteer leader Jacob Rees-Mogg warned Ms. May that the council should be published.

Speaking to the BBC Newsnight, Mr. Rees-Mogg said: "I would say to publish and avoid being in contempt of the House of Commons, which is a very serious matter".


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.