Chairman of the Building Societies Association Dick Jenkins vowed to grasp the opportunities of leaving the European Union at the association’s annual lunch yesterday.
While Jenkins was a ‘Remainer’ he vowed not to be a ‘Remoaner’, as he told delegates that leaving the EU will help the UK establish proportional and appropriate regulatory framework without influence from Europe.
Jenkins, who is also chief executive of Bath Building Society, said: “At its simplest, change can be taken as negative and frightening or something that brings with it some exciting opportunities – to a large degree we have a choice about the approach we take to it.
“I will be working to realise the opportunities that leaving the European Union can and should bring consumers and our economy.
“One big win for consumers, once we have left the EU and the dust has settled, would be the creation of a genuinely vibrant, competitive and diverse retail financial services industry which serves them well.”
He added: “Having a more proportionate and appropriate legislative and regulatory framework, rather than a one size fits all EU single rulebook, will go a long way to firms delivering what UK consumers deserve, and give them the headroom to innovate and explore new markets.
“If we want a good Brexit it must be a catalyst for beneficial change for consumers. The whole process will be a marathon not a sprint, but it is vital that during the immensely complex negotiations our government keeps the flexibility that will allow positive legislative and regulatory change once we have left.”
Also speaking at the lunch was Housing Minister Gavin Barwell, who vowed to work with mortgage lenders to facilitate an innovative and diverse housebuilding sector.