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Britain reviewing risks on financial passporting, Brexit minister says
September 5, 2016 / 4:40 PM / a year ago

Britain reviewing risks on financial passporting, Brexit minister says

LONDON, Sept 5 (Reuters) - The British government is reviewing the risks involved with issues such as financial passporting and access to the single market after leaving the European Union, the minister in charge of negotiating Brexit said on Monday.

David Davis also told parliament that given its economic difficulties, the EU would not want to punish Britain on trade as it risked hurting its own economy.

“Those are issues, all of them, passporting, access to markets ... they are all issues that are being looked at and evaluated in terms of where the real risks are,” he said, adding that there were very different views on passporting from people in the City of London financial sector and businesses.

Davis also said that while warnings over the impact of a Brexit vote on the economy had been “proven to be wrong”, Britain should “not get too optimistic before we close the deal.” (Reporting by Kylie MacLellan and Elizabeth Piper; editing by Guy Faulconbridge)

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