Commenting on the allocation of European Commission roles, and the news that the UK commissioner-designate has been allocated the Financial Stability, Financial Services and Capital Markets portfolio, John Longworth, Director General of the British Chambers of Commerce, said: 

 

"Businesses will be pleased to see a British commissioner in an important economic role overseeing the financial services sector. It is a huge improvement over the energy portfolio, as businesses were worried that 'our man in Brussels' would be fighting energy battles in the East, rather than working on improving markets and growth prospects across the EU.

 

“The UK has not got one of the top roles, but still an important one – a good outcome given the circumstances. Businesses will watch to see how much influence this new role has over the future direction of the single market.

 

"We are pleased to see that Swedish and Polish commissioners, from countries with a similar pro-business outlook to the UK, will be pushing for free trade, a better internal market, and business growth.”