FAQ
Services policies
The UK's financial services sector plays a significant role in the country's economy, and as such, the UK Government should take steps to ensure that the sector can continue to thrive and remain globally competitive.
44. The UK should work with the EU to maintain equivalence for clearing past 30 June 2025, and assess the potential benefits of seeking equivalence arrangements in other areas of financial services.
45. The UK and EU should fully implement a financial services Regulatory Cooperation Dialogue to foster a close and productive relationship with EU authorities.
Uncertainty around the continued flow of personal data between the UK and the EU has the potential to disrupt business operations, undermine trust in data protection, and hinder cross-border cooperation.
46. The UK should retain and extend data adequacy with the EU to ensure the continued flow of personal data between the UK and the EU, aiming to achieve a longer commitment to adequacy. The UK must ensure data protection legislation or agreements with other countries do not undermine GDPR principles, resulting in a loss of adequacy.
The recognition of professional qualifications is crucial for enabling the mobility of skilled workers and promoting trade in various fields. The establishment of mutual recognition agreements would promote the exchange of skills and knowledge across borders, enhance the competitiveness of UK businesses, and support economic growth.
47. The UK Government should collaborate with the EU, professional associations and regulatory bodies to seek mutual recognition agreements in various fields, such as engineering, accounting, auditing, law, and architecture.
48. The UK should work with the relevant professional associations and regulatory bodies to develop the necessary frameworks and standards for mutual recognition.
Small businesses and freelancers play a crucial role in supporting economic growth and innovation. However, they often face unique challenges when it comes to international trade, such as high trade barriers and complex visa requirements. This can create disproportionate challenges for small businesses and freelancers compared to larger companies with greater resources.
49. The UK should establish a small service provider dialogue with the EU to address the disproportionate impact of trade barriers on small businesses and freelancers and to consider issues related to visas and other relevant factors.