Brexit-Free Budget Drops EU Access for Finance Down the Agenda
- EU officials express caution over divergence on banking rules
- No word of financial-services deal in Sunak budget statement
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A widening gap between Britain and the European Union over finance regulation is starting to emerge, with a post-Brexit alignment dropping down the U.K. agenda.
In policy statements Wednesday, Chancellor of the Exchequer Rishi Sunak outlined measures to increase London’s competitiveness, including easier listing standards and a likely cut in bank levies. There was no discussion of trying to win Brussels’ endorsement for the regulatory equivalence that big firms like HSBC Holdings Plc say is vital.