“British taxpayers should not be expected to foot the bill for special privileges in accessing European markets solely for the financial service sector alone,” he said.
“Britain has voted to leave the EU, it has not voted for paying huge fees for special favours for bankers.
“We support access to EU markets for financial services, but it is crucial for the British economy that the government insist on full, tariff-free access to the Single Market for all our industries, to protect jobs and livelihoods in the UK.”
HuffPost UK has been told that McDonnell believes it is unwise to aim for ‘sector-by-sector’ deals on individual industries because the UK was more likely to get a better deal by negotiating goods and services together in one package.
His remarks came as the battle between ‘soft’ and ‘hard’ Brexit supporters in Cabinet continued, with some ministers preferring a ‘soft landing’ for the financial services and continued EU migration for highly skilled workers.
Article source: http://www.huffingtonpost.co.uk/2016/10/17/john-mcdonnell-labour-bankers_n_12527904.html?utm_hp_ref=uk-politics&ir=UK+Politics