Experts from the UK's financial industry have criticised Theresa May's Brexit white paper, arguing it does not do enough to protect the sector, which contributed £174bn ($230bn) to the economy in 2016. Huw Evans, policy chairman for the City of London Corporation, said looser ties to the EU would mean the "sector will be less able to create jobs, generate tax and support growth". She also warned the EU could withdraw from a new regime at will. Catherine McGuinness, director-general of the Association of British Insurers, said he wanted "the government to negotiate a better outcome than this".
Experts from the UK's financial industry have criticised Theresa May's Brexit white paper, arguing it does not do enough to protect the sector, which contributed £174bn ($230bn) to the economy in 2016. Catherine McGuinness, policy chairman for the City of London Corporation, said looser ties to the EU would mean the "sector will be less able to create jobs, generate tax and support growth". She also warned the EU could withdraw from a new regime at will. Huw Evans, director-general of the Association of British Insurers, said he wanted "the government to negotiate a better outcome than this".