Insights House of Lords EU Services Sub-Committee launches inquiry on future UK-EU relations on trade in services

The EU Services Sub-Committee is inviting written contributions to its new inquiry into the future of UK-EU relations on trade in services. The inquiry will examine the impact of the provisions set out in the UK-EU Trade and Cooperation Agreement (TCA) on the UK’s services sector.

The service sectors of interest to the Committee’s inquiry include, but are not limited to: financial services; professional and business services (such as legal services, accountancy, auditing; architecture, engineering, advertising, market research, recruitment services); creative industries (including audio-visual services); research and education; and data and digital services.

The Committee seeks evidence on the following questions in particular:

  • What is the impact of the UK-EU free trade agreement on trade in services?
  • What effect may national reservations to the TCA have on trade in services with the EU?
  • What effect will arrangements on the mobility of professionals have on trade in services between the UK and EU?
  • How will the intellectual property provisions set out in the TCA affect UK-EU trade in services?
  • How will the arrangements in the TCA shape UK-EU trade in financial services?
  • The Joint Declaration on Financial Services Regulatory Cooperation sets out that both sides seek to establish structured regulatory cooperation on financial services. What form should this dialogue take?
  • Given the plans to delegate more powers to financial regulators, what form of Parliamentary oversight of these regulators would be appropriate?
  • How will the new UK-EU framework for the mutual recognition of professional qualifications affect professionals and service sector businesses?
  • What will be the impact of TCA’s provisions on the cross-border supply of services and rights of establishment, such as commitments on local presence and economic needs tests?
  • Under the future relationship agreement, the UK will become an associate member of Horizon Europe but will not associate with the Erasmus+ programme. What impact will this have on the UK’s research and education sector and students?
  • How will the provisions in the TCA affect the creative industries sector?
  • The EU has granted the UK a six-month data adequacy “bridge” to allow the free flow of personal data until the EU determines whether or not to grant a data adequacy decision to the UK. How would the absence of a data adequacy decision at the end of this bridging period affect trade in services?
  • What impact will the arrangements agreed have on digital trade and trade in digital services between the UK and EU?

The Committee invites interested individuals and organisations to submit written evidence to this inquiry by 5 February 2021. To read the Committee’s press release in full and for a link to the inquiry pages, click here.