Foreign Affairs Committee
20 April 2026
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Foreign Affairs Committee House of Commons
00:00 - 00:41
Speaker 1
Session on the Gibraltar British agreement and Spanish agreement. And and we have the great honor of the chief minister, Fabian Picardo, in front of us and and the attorney general of Gibraltar, Michael Yammas, in front of us. Thank you very much for coming. We have we have a series of questions. And if you don't mind, can we just kick off?
So what I'd like to ask you is, you told the Gibraltar parliament parliament that the agreement is the fruit of compromise. So what in your view are the main benefits for Gibraltar of this treaty? And what are the costs and the downsides?
00:42 - 01:49
Speaker 2
Chair, thank you so much for giving us the opportunity to address the committee, and thank you to the committee for taking an interest in the fruit of the work that the committee has been following now for almost a decade, since the Brexit vote. This has been a complex negotiation. We had objectives which were very clear. I know from the work that you've all done in the past under separate administrations, you understand the economy of Gibraltar. I I did all the work with sir John when he was at the Department of Culture, Media, and Sport.
So you understand that we have an economy that is based principally on services, financial services, which are sold from Gibraltar to the world, gaming services that are sold from Gibraltar to the world. In each instance, our principal market is The United Kingdom. The regulatory standard in Gibraltar is extraordinarily high. In gaming, I go around the world evangelizing that our standard of regulation of gaming services is the highest in the world. I'm joined in the room today by Gibraltar's minister for gaming and financial services, Nigel Featham Casey.
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