British Government Confirms barrier-free access to U.K. For Gibraltar financial services licensees
The British Government has today confirmed that Gibraltar Financial Services providers and Gibraltar gaming operators will continue to have access to the U.K. markets post-Brexit by means of a bilateral arrangement designed to secure freedom of movement of services between Gibraltar and the United Kingdom.
This confirms the commitment given by Liam Fox, the Secretary of State for International Trade last October at the Gibraltar Government’s Gibraltar Day in London.
The commitment is set against the backdrop of the concerns Gibraltar had harboured about the impact of the loss of EU passporting of services. In the event, it was determined in the weeks that followed the referendum that over 90% of the financial services activity generated in Gibraltar was U.K. facing, meaning that Brexit would, in that context, represent only a very limited impact if access to the U.K. could be negotiated bilaterally.