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Forget the fish, here’s what the Brexit deal will mean for the City

For many in the City, the outcome of the Brexit talks has been of less concern than some commentators might imagine

Fishing quotas have been a major roadblock in agreeing a post-Brexit deal
Fishing quotas have been a major roadblock in agreeing a post-Brexit deal Photo: Getty Images

It seems somehow appropriate that in the end it came down to fish. Something of huge political weight but little economic importance.

One of the mistakes many observers made after the 2016 Brexit referendum was to assume that the talks over new trade arrangements would be driven largely by the obvious economic interests of both sides. In the event, concerns over sovereignty and the integrity of the European project loomed larger.

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