L

Lord Mountevans (CB)

Speaking in the House of Lords on 14 May 2025

Debate

Trade Negotiations

Contribution

My Lords, following the Minister’s comments about the next phase, financial and professional business services are Britain’s leading industry here in London but with two-thirds of the jobs outside London. On the goods agreement so far, some £59 billion-worth were exported to the USA in 2024, while £119 billion of services were exported to the USA in 2023. This is potentially a moment of great opportunity for the United Kingdom in financial and professional business services. We have a unique position between the USA and Europe, and we can have a great platform here as an independent, neutral and very powerful player in this space. With our shared roots in common law with the United States, this is also a strong opportunity for us, so can Minister assure us that financial and professional business services will be a central part of the agenda as we move forward to the next stage?

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