Wednesday, December 28, 2016

City of London no doubts of strength after Brexit

Oh what a surprise, someone just blew out project fear!!

Senior City figure upbeat on London role after Brexit

Mark Boleat’s remarks echo Eurosceptic view that risks have been exaggerated

London will remain the world’s leading financial centre in spite of Brexit, according to a senior City figure, in remarks that will boost Tory Eurosceptics who say lobbyists have exaggerated the threat.
Mark Boleat, policy chairman of the City of London Corporation, said there was considerable “nervousness” about a possible regulatory cliff-edge when Britain leaves the EU.
But he said: “I have no doubt that whatever happens in 2017, the City of London will remain the world’s leading financial centre.”
His comments reflect the view among pro-Brexit figures that the City will emerge with its global reputation intact, as lawyers devise ways to minimise the impact of leaving the EU.
Mr Boleat said it was vital that a transition deal was agreed early in negotiations to give the City enough time to adapt to a new regulatory regime; chancellor Philip Hammond is backing that cause.
I have no doubt that whatever happens in 2017, the City of London will remain the world’s leading financial centre
Mark Boleat
“Firms’ nervousness can only be allayed if they know how they can continue running their business,” Mr Boleat said. “Important strategic business decisions are being delayed and much-needed investment postponed or withdrawn altogether.”

I wonder if the old governor of the Bank of England had a word:

Lord King says Brexit brings 'real opportunities'

Lord King, the former governor of the Bank of England, has said that the UK should be "self-confident" about leaving the European Union.
He said there were "real opportunities" for economic reform and new trade deals which meant Brexit could be a success.
He highlighted agricultural reform and a developing relationship with the Republic of Ireland as areas where the UK could be positive.
After Brexit, the Irish border will be the only EU-UK land border.
"I think the challenges we face mean it's not a bed of roses, no one should pretend that, but equally it is not the end of the world and there are some real opportunities that arise from the fact of Brexit we might take," he said in an interview with Radio 4's Today programme.


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