July 3, 2018 / 6:51 AM / 4 months ago

Accountancy and law firms tell May - We need a Brexit deal on services

A combined United Kingdom and European Union flag flies outside the Palace of Westminster in London, Britain, June 28, 2018. REUTERS/Toby Melville

LONDON (Reuters) - A group of leading accountancy and law firms have called on British Prime Minister Theresa May to strike a Brexit deal on services that gives mutual recognition of regulations and qualifications to prevent damage to the $250 billion (190.42 billion pounds) sector.

The Professional and Business Services Council, which includes Allen & Overy, Clifford Chance, KPMG, EY and Deloitte, said they would need mutual recognition of professional qualifications, products and regulations.

“Failing to negotiate these elements would impair our ability to provide our services with the same range, depth and speed our clients around the world experience today, damaging their businesses and putting our sectors at a distinct competitive disadvantage,” the council said in a letter to May.

Reporting by Guy Faulconbridge; editing by Michael Holden

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