Reading through the Chequers white paper (still the basis for the current Brexit deal being argued over, even though "Chequers" isn't mentioned any more) it's striking how bluntly the Government is turning its back on services, which make up 79% of UK GVA.
assets.publishing.service.gov.uk/government/upl…
assets.publishing.service.gov.uk/government/upl…
p.25: "The UK is proposing new arrangements for services & digital that would provide regulatory flexibility, which is important for the UK’s services-based economy. **This means that the UK & the EU will not have current levels of access to each other’s markets.**" (my emphasis)
p.28: ['about cross-border provision of professional services] "The supplementary provisions would not replicate Single Market membership, and professional and business service providers would have rights in the UK and the EU which differ from current arrangements."
p.29: "As the UK leaves the EU & the Single Market, it recognises the need for a new & fair balance of rights and responsibilities. The UK can no longer operate under the EU’s “passporting” regime, as this is intrinsic to the Single Market of which it will no longer be a member."
Yes, that's the famous "financial passport" allowing banks, insurance companies & other financial sector firms established in the UK to ply their trade across the whole of the EU. Pretty fundamental, you'd think? No wonder they're leaving the UK in droves!
Later on p.29, the Government basically spells out the fact that the EU's third country equivalence regimest (the most basic access granted to third country parties) aren't sufficient for the financial sector (see excerpt below). In other words, *we need a deal*!
So there you have it, in black and white. I recommend going back to the underlying document and reading the whole thing, especially if you work in an affected industry. But it's stark just how explicitly the Government cares so little about the fate of the UK's services sector.
