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8 (a plan that has been proposed since 2016 ).
9 At a Treasury Select Committee meeting on February 24, Andrew Bailey, Bank of England Governor, warned the EU of what he considers to be a very serious escalation over UK financial services, and added that “there’s a point beyond which the deal is not worth having”. The temporary equivalence for UK clearing houses and CCP to be able to clear euro denominated trades ends mid-2022.
February 2021 has therefore shown that the sensitivities on financial services still continue post-Brexit. For all types of financial services firms, regardless of their post-Brexit operational readiness, these developments matter as they impact structuring and resourcing options, as London’s European business flows to a more multi-financial center based model.
OVER recent days, more and more people have been getting vaccinated and some people are starting to get their second doses. This is all wonderful news and offers us all hope that we will be able to unlock the economy and get back to work. I’ve also been visiting the new testing centres which are opening up across Worcestershire allowing people to get fast tests and fast results, even if they don’t have symptoms. The Government has taken unprecedented steps to deal with the effect of this global pandemic to our lives and our livelihoods. That has meant that the Government has had to devise and implement support schemes to the tune of £280 billion but these have increased our national debt to 100 per cent.