The Senior Tory MP has called on both the government and Labour to show courage and admit that Brexit has failed
I assume services was left out because it’s the area where the UK has areas of competitive advantage like fintech, deeptech, life sciences etc.
The EU would have demanded dynamic alignment of regulations for any inclusion and that would negate any advantage that could be gained.
The first test will be AI regulation, the EU has opted for a horizontal approach whereas UK is going for a vertical one which has received a welcome response from the AI industry
Competitiveness counts for little when there are barriers to our competitive service sector even selling their services in the EU.
Competitive in financial services? Doesn’t matter, as we don’t have passporting anymore, so British banks and insurers have to set up on-shore locally-regulated entities to sell their services in the EU.
Competitive in professional services? Doesn’t matter either, as there’s no longer any mutual recognition of professional qualifications.
Etc.
