No single market benefits or passporting rights after Brexit, says Barnier

Britain will lose the benefits of the European single market and its financial sector will lose the "passporting" arrangements which allow them to operate in the remaining EU as a result of Brexit, Brussels’ chief negotiator Michel Barnier has said.

Britain will lose the benefits of the European single market and its financial sector will lose the "passporting" arrangements which allow them to operate in the remaining EU as a result of Brexit, Brussels’ chief negotiator Michel Barnier has said.

Mr Barnier told a conference in the Belgian capital that the EU wants to offer its "most ambitious free trade agreement" to the UK, but warned that there was no question of Britain "cherry picking" elements of the single market which it wanted to keep.