U.K.`s Non-Financial Services at Risk After Brexit, Lords Say

by Dramelin 8:00 PM 0 comments

U.
K.
Prime Minister Theresa May should seek a free-trade deal with the European Union that includes services or risk damaging industries that aren?t covered by World Trade Organization rules, a House of Lords panel found.
Exports of non-financial services amounted to 162 billion pounds ($200 billion) in 2015, with 39 percent of them going to the EU.
?The U.
K.
is the second largest exporter of services in the world,? Larry Whitty, the chairman of the subcommittee, said in a statement.
They include accountancy and legal services, telecommunications, broadcasting and aviation.
According to the Internal Market Subcommittee of the upper chamber?s EU Committee, the fear after Brexit for these industries isn?t about tariffs but non-tariff barriers, such as a requirement to have licenses in order to trade.