Top London Lobby Group Ends Anti-Brexit Stance, Cheers Prospects For Financial Institutions

Josh O'Neill

1 February 2017

London lobby group has signalled her commitment to striking the best trade deals around the world post-Brexit. One of the most significant opportunities for the UK following its exit from the EU will be its ability - for the first time in decades – to pursue an independent UK trade and investment policy based on UK interests,” said Gary Campkin, director of policy and strategy at TheCityUK.

He added: “The UK is the leading exporter of financial services globally, generating a record-high trade surplus in 2015 of $97 billion. Around 40 per cent of the UK's trade surplus in financial services is with Europe. However, over the next 10 to 15 years, 90 per cent of global economic growth is expected to be generated outside Europe and these markets – developed and emerging – must be a priority focus for the country post-Brexit.”

The new proposals are more than just an effort to make the best out of Brexit; the paper argued that while existing key commercial links will be maintained, “there are significant opportunities for trade and investment policy to be varied in innovative ways, breaking away from the legacy of past practice set by the EU”.