Responding to the EU granting a three month Brexit extension with the option for the UK to leave earlier if a deal is ratified, Stephen Jones, Chief Executive of UK Finance, said:

This extension is welcome in reducing the risk of an immediate ?no-deal? exit that would cause economic disruption on both sides of the Channel, but it is no substitute for the much-needed certainty that the financial services industry and its customers urgently require. The current cycle of UK-EU Brexit agreement followed by UK parliamentary rejection is damaging and unsustainable.

?It is now crucial that Parliament uses this additional time wisely to finalise once and for all an orderly Brexit agreement and provide a clearly defined path forward.

?In the meantime, the finance sector will continue to focus on helping firms and consumers prepare for the UK's departure from the EU, including through our Let's Talk Business campaign.