Philip Hammond allays Japan’s Brexit fears as he urges car firms and banks not to quit the UK


Philip Hammond has insisted Japanese car firms and banks employing thousands of Brits have nothing to fear from Brexit.

At the weekend, Tokyo issued a 15-page document setting out its concerns and warning that major firms and banks could quit the UK if they lose access to Europe’s import, export and labour markets.

But the Chancellor said last night: It’s in our interests, and I would argue in the EU’s interests as well, to have free and open access to each other’s markets.

But we cannot accept uncontrolled free movement of people. That is the political outcome of the referendum decision.

I don’t think that needs to strike fear into the heart of Japanese financial institutions.

Mr Hammond added that the economy has fared better than the Bank of England predicted before the June 23 referendum vote.

News Source MirrorNews

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