Financial services minister Neale Richmond has warned Britain it will not get ‘free pass’ on Brexit rules if Labour wins the UK election
The Government is keen to help the stock exchange in Dublin “recover” from several high-profile exits and a paucity of new flotations in recent years and is examining if it can introduce tax incentives to boost activity, according to“The scheme has got quite clear merits. We’re keen to talk to them further. We want to make sure that we can help them recover,” he told The Irish Times on Thursday in advance of a dinner promoting the Irish industry in London.
Mr Richmond said the challenges faced by the Irish exchange are not unique to the Republic and have affected smaller bourses across Europe, but the Government would continue to hold discussions with the industry to see what it could do to help. The Fine Gael TD, who took on the financial services portfolio 11 weeks ago after he was considered for a full Cabinet position by new Taoiseach Simon Harris, said the Government is targeting further growth across the industry.
Mr Richmond said the Government wants Britain to have “a closer relationship” with the EU but he warned it could not expect a “free pass” to get whatever it wanted. The EU has also repeatedly warned that Britain will not be allowed “cherry pick” what it wants from EU membership.
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