PUBLISHED: 15:10, Thu, Nov 12, 2020 | UPDATED: 15:10, Thu, Nov 12, 2020
ITV’s political editor took to Twitter to share a question posed by Lord Gadhia in the House of Lords today where he asked whether the UK has abandoned any hope for a “substantive financial services” chapter through a trade deal with the EU.
Mr Peston claimed both the Prime Minister and Chancellor Rishi Sunak have abandoned a financial services deal with the EU.
He tweeted: “This from Lord Gadhia is spot on.
“Rishi Sunak and Boris Johnson have capitulated and seemingly abandoned hope of a financial services deal with EU, and have announced City will be simple rule take from Brussels.”
He then added it was “very odd” the UK has surrendered on financial services despite having a massive deficit with the EU.
Peston explains how Boris has ‘capitulated’ to EU (Image: Getty)
Chancellor Rishi Sunak (Image: Downing Street)
Mr Peston continued: “Very odd that UK expends so much political capital trying to get deal with EU in goods, where we have massive deficit with EU, and surrender on financial services, where we have surplus.
“Maybe government thinks the City can thrive in all climates and manufacturing can’t.
“But it feels odd.”
This week, Mr Sunak said financial services will be “essential to our economic recovery” from the coronavirus pandemic.
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