Hunt Signs 'Turning Point' EU Financial Services Deal

Britain and the European Union have signed a deal on financial services regulation, in the latest sign of a post-Brexit thaw in relations, although Jeremy Hunt admitted that talks on rejoining the Horizon Europe science programme were at a "crunchy" stage

- ALASTAIR JAMIESON

EU financial services commissioner Mairead McGuinness said Brussels and London had "turned a page" in their relationship. Financial services makes up more than a tenth of the British economy, being worth more than a quarter of a trillion pounds last year. A memorandum of understanding (MoU) signed by Ms McGuinness and the chancellor will see greater cooperation between officials from the EU and the Treasury.

She said the Windsor Framework deal to address concerns over Northern Ireland had helped smooth relations between the UK and EU. "This has allowed us to move forward in a spirit of partnership, based on trust, cooperation and delivering benefits for people on both sides. This MoU we've just signed is one example of the benefits of partnership."