Britain’s economic sector is too important to the economy to allow a post-Brexit relationship that does not aside its regulators to set their own rules, Prime Minister Theresa May said.
“If we were to receive ‘passporting’ we’d just be a rule taker, we’d have to abide by the rules that were being set somewhere else,” May said in an interview with the BBC when asked why she did not want to keep the order that allows cross border European Union trade in monetary services.
“Given the importance of financial stability, of ensuring the City of London, we can’t exactly take the same rules without any say in them,” May said in an interview track recorded on Friday after a speech setting out her Brexit objectives.