Brexit vote has already hurt tech but the next step could be worse
by Alex Hern from Technology | The Guardian on (#1KJ4W)
Most insiders agree that trade plans aimed at limiting free movement and protecting economy, would damage UK sector
One of the favoured plans to restrict freedom of movement but protect the UK economy following the vote to leave the EU would exacerbate the damage of Brexit to the technology sector companies fear.
According to commenters such as the Financial Times' Wolfgang Mi1/4nchau, the UK might negotiate a bilateral free-trade agreement which would see it giving up "passporting" rights (the ability to offer financial services throughout the EU without needing to be subject to overseas regulators) in order to secure an opt-out of one of the EU's four fundamental freedoms: the freedom of movement of people.
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