The unlikely allies vow a blizzard of contentious measures, threatening to cancel VAT rises, overturn key market reforms, introduce a universal "basic income" for the poor, and launch a fiscal blitz in open defiance of EU spending rules.
There are 38 million people living in Europe outside Britain who have policies with U.K. insurers, according to Nicky Morgan, chair of Parliament’s Treasury Committee.
The so-called equivalence system works on the basis of Brussels granting access to the EU for banks, insurers and asset managers from outside the bloc if the bloc deems their home rules to be similar enough.
BOSSES at German luxury sports car manufacturer Porsche have warned European Union negotiators that bullying Britain over Brexit could cost German jobs, damage the economy and lead to ‘big trouble’ for Brussels.
If these firms have not put in place plans that enable them to continue trading in the European Union in the event of a hard Brexit, their policies will no longer be legally recognised in Ireland and other member states.
Proposals, due for publication on Tuesday, will be as vague as possible in order to force UK to explain what it wants