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Britain's financial sector ready for any type of Brexit: Minister



(Reuters) – Britain's financial sector continues to function whatever form Brexit takes, a junior minister said on Tuesday, but the head of an industrial body said it would give back proposals to avert the UK leaving the EU without withdrawing the agreement. 19659002] The UK will leave the European Union next month but has not yet agreed on a divorce settlement with the block, creating uncertainty and fear of a possible disorder.

"We are very focused on the Treasury to prepare for possible results," said junior finance minister Robert Jenrick to the annual UK Insurance Association Association.

Britain puts EU legislation on its statutes.

"This will ensure that regardless of the outcome of the outcome of the European Union, we have a functioning financial services system, Jenrick says.

But Carolyn Fairbairn, Director General of the British Industry Association, outlined the prospects for a British Prime Minister Theresa May will propose on Tuesday to formally exclude a lack of Brexit in an attempt to avoid an uprising of legislators threatening to take control of the divorce process The Sun newspaper reported.

CBI would return to proposals that would lack Brexit off the table, Fairbairn told a conference panel.

"Businesses want a deal, they know no business has to be discouraged," she said.

Several EU states have promised to introduce laws to avoid the worst decline from any hard or no bridge.

But a regulatory source told Reuters that these laws have not yet come into force by EU countries.

"Unfortunately, I am ashamed that I cannot give you the assurance you deserve. It is our duty to put you in a position of greater security, and that is what we are trying to do," says Jenrick.

The insurance sector is a British success story contributing £ 30 billion ($ 39.1

billion) annually to the economy, but it must be constantly adapted to follow developments like financial engineering or fintech, he said.

"We cannot assume that Britain is predestined to remain the heart of this market forever "Jenrick said.

He said the government would publish a proposal to ensure that financial services and other sectors such as tools remain" smart and smooth "after Brexit.

                    


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