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Banks Get No Special Favors in UK Brexit Plans

Prime Minister Mays approach said to break from Cameron on City of London.

By Timothy Ross, Bloomberg | Updated on October 03, 2016

British financial-services companies will get no special favors in Brexit negotiations from Prime Minister Theresa May, who wants to change the relationship between the government and the City of London.

According to three senior figures in May’s administration, the government will refuse to prioritize the protection of the sector after the U.K. has left the European Union. Her team has also dismissed the key business demand for an interim deal with the EU to help ease the transition out of the bloc, one of the people said. All asked not to be named because the information is sensitive.

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