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Parliamentary debates and questions

S5W-21087: Tom Arthur (Renfrewshire South)

Scottish National Party

Date lodged: 17 January 2019

To ask the Scottish Government what its response is to the finding in EY’s Financial Services Brexit Tracker that Dublin was the most cited destination for companies seeking to move operations to other parts of the EU because of Brexit.

Answered by: Kate Forbes 31 January 2019

Companies are being forced to take contingency measures to protect their ability to access EU markets and ensure continuity of service to their customers. In some cases, this contingency action has included the establishment of subsidiary operations in financial centres elsewhere in the EU, including Dublin, Paris and Frankfurt.

Many Scottish companies have longstanding connections with Dublin, including existing subsidiaries and operating licences, and will use those resources to ensure that they continue to be able to offer services across the European market after Brexit.

We will continue to work with businesses and representative bodies across the sector to ensure that Scotland remains a stable and attractive place to do business.