The Telegraph, 17 April, Barnabas Reynolds
The UK’s vaccines are not the only victims of the EU’s approach to British successes. The EU is also in the process of using regulation and protectionist policies to control markets and take business from the UK’s global financial services.
The signs are that the EU will continue, in the near future, to drag its feet on co-operating with UK financial firms on equal terms to facilitate equivalence-based access to the EU markets. Given these signals from Brussels, the UK must accelerate reform in developing its legal and regulatory framework.
Up until now the primary concern of UK lawmakers has been about equivalence. The fear was that if UK regulations do not track those in the EU, there would be the risk of a lack of “equivalence” determinations. But now, this worry has become irrelevant, since the EU is clearly unwilling to grant equivalency to the UK in any areas, despite our literally identical inherited laws.
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