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Brexit services plan will speed up relocation, says Lloyd's boss

Brexit services plan will speed up relocation, says Lloyd's boss

Business
Media playback is unsupported on your device The Lloyd's of London chief says the government's plan for relations with the EU after Brexit will speed up the departure of firms from the UK.Inga Beale told the BBC the White Paper would see the 300-year old insurance market go "full speed ahead" to set up its subsidiary in Brussels - and spur others on as well. Service sector groups say the plan will affect employment and is a "real blow".However, non-services groups were more positive.Services, including banks, insurance companies and investment firms, make up 80% of the UK economy and are one of its most successful exports to the EU.The government wants UK financial services in future to adopt a beefed-up version of a system already used by cer...