Editorial: City of London faces threat to its role as rulemaker

Europe’s financial capital looks set to be usurped after Amsterdam replaced it last month as the main location for trading European shares

14th February, 2021
Editorial: City of London faces threat to its role as rulemaker
The migration of business from London is part of an emerging picture of the costs that Brexit is imposing and will continue to impose on British business and the economy

One of the puzzling aspects of Britain’s “trade deal” with the European Union is that it does not include financial services, Britain’s biggest industry.

The City of London is Europe’s most important financial centre, and a global hub for trading, legal services and investment banking. Financial services contributed £75 billion in taxes to the British exchequer in 2019.

Yet the City was ignored and demeaned by the proponents...

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