Brexit LIVE: ‘Odd and wrong’ Brussels holds UK ‘to higher standard than communist China’

Jacob Rees-Mogg gives update on Brexit to the Commons

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A report by the influential Lords European affairs committee found that Brussels’ decision to lock the City of London out of the square mile was “political rather than technical”. The EU refused to grant the UK regulatory “equivalence” which allows countries not in the bloc to access the single market based on how similar its rules are, despite Britain’s rules being largely equivalent to its own.However, communist China has been granted equivalence. Lord Kinnoul, chairman of the committee, said: “China has been granted equivalence by the EU in a dozen or more areas. It looks odd and wrong that the UK has not been granted this considering we are democracies of a similar character.”

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‘Odd and wrong’ Brussels holds UK ‘to higher standard than communist China’

The EU has been accused of holding the UK to a “higher standard than communist China” in granting it access to the bloc’s financial market after Brexit.

A report by the influential Lords European affairs committee found that Brussels’ decision to lock the City of London out of the square mile was “political rather than technical”.

The EU refused to grant the UK regulatory “equivalence” which allows countries not in the bloc to access the single market based on how similar its rules are, despite Britain’s rules being largely equivalent to its own.

However, communist China has been granted equivalence. Lord Kinnoul, chairman of the committee, said: “China has been granted equivalence by the EU in a dozen or more areas. It looks odd and wrong that the UK has not been granted this considering we are democracies of a similar character.”

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Good morning, I’m Olivia Stringer and I’ll be bringing you all the latest developments on Brexit for the next eight hours. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.

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