The UK government is setting up a new unit to explore the opportunities that Brexit offers Britain. David Frost, the Minister for EU – UK relations, has said he is setting up and hiring the head for a new unit that will work outside of government to explore things like changing the financial services regulations to benefit Britain.
During Westminster’s European Scrutiny Committee, David Frost said: “It’s been mentioned over the weekend that we are looking at financial services regulations and seeing what we can do now we are able to move on from EU arrangements for financial services. We will be doing this on other areas.”
“I am on the key committees responsible for this, we are also creating a new unit to work with me on this subject, and we’ll be recruiting shortly for ahead of this unit from outside government.”
“We shouldn’t accept we are in the EU’s regulatory orbit for these purposes; we do need to go our own way of doing things and our own philosophy behind it.”