MPs predominantly discussed legislation that works in the interest of British citizens residing in Luxembourg.
The first draft bill discussed concerns those Britons currently receiving disability allowance or Revis (social inclusion allowance) from the Luxembourgish state prior to 30 March. The legislation will ensure that these claimants are guaranteed continued benefits.
The next draft bill covers British citizens currently working as Luxembourgish civil servants. The legislation concerns around 45 individuals, the majority of whom work in education. If the UK leaves the EU without an agreement, then these public employees will still retain their rights.
The final Brexit-related draft bill discussed on Tuesday focuses on the stability and continuing functioning of the financial sector. As the draft bill rapporteur André Bauler (Democratic Party) explained, the legislation will allow the Commission de Surveillance du Secteur Financier (CSSF - the commission charged with regulating the financial sector) to extend contracts of British financial institutes based in Luxembourg. The legislation will allow these contracts to be extended to a maximum of 21 months.
Minister of Finance Pierre Gramegna explained that the draft bill would target three aspects: it would stabilise finances, protect the credibility of Luxembourg's financial sector, and protect depositors. The importance of this legislation is due to Luxembourg's position as having the second-most significant funds industry in the world. As a result, Gramegna stressed, clients must be protected.
The three pieces of legislation passed in the Chamber of Deputies on Tuesday remain legislative texts that may not even enter into effect. Here, the Luxembourgish state must also await results from the British Houses of Parliament and government.
No-deal Brexit: Legislation to allow Britons a year without residential permits passed
