Personal Finance

Brexit

The United Kingdom’s imminent exit from the European Union is likely to mean significant changes to the way goods and services are traded between the UK and the EU27.

The United Kingdom’s imminent exit from the European Union is likely to mean significant changes to the way goods and services are traded between the UK and the EU27. 

The UK is currently the second largest exporter of services worldwide and is probably Europe’s most interconnected financial centre. The implications of a sudden change risk serious disruption to businesses and their customers, with billions of euros of banking and capital markets products and services relying on a borderless environment.  It will also require an evolving relationship between two legal frameworks that will at the time of Brexit be fully aligned with each other.

At a time of considerable uncertainty, UK Finance is committed, on behalf of the financial industry, to ensuring positive outcomes for customers, economies and its members in the UK and across the EU. This includes advocating for an appropriate transition period, a clear framework for cross-border trade which covers financial services, and the mitigation of risks for customers, the real economy and financial markets. We will seek to support our members and other stakeholders in arriving at an appropriate exit deal and a new, successful, partnership that works for UK and EU customers, businesses and the economy.

Brexit Quick Briefs

UK Finance Brexit Quick Briefs are a series of short papers intended to inform readers about key commercial, regulatory and political considerations around Brexit.

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