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TheCityUK: Cities across UK host vital financial and related professional services hubs
Of the 2.2 million people working in the industry, the majority (1.5 million, or around two-thirds) work outside London, together representing around 7% of the working population, yet contributing nearly 11% (£176bn) of total Gross Value Added (GVA) in 2015. View Article |
BBA: UK regions lead growth in banking jobs
BBA's Browne pointed out the contribution of the industry to the overall British economy through job creation. 90 of the top 100 constituencies with the highest share of bank and building were outside of London, according to the latest research. View Article |
Bloomberg: Ex-Premier Major warns May she can't deliver Brexit promises
John Major attacked Theresa May’s Brexit strategy, warning that she’s making undeliverable promises and should prepare people for the compromises that will come out of her negotiations. View Article |
PIIE: The City of London after Brexit
According to estimates presented in this Policy Brief, the direct negative effect of Brexit on the financial sector in the City of London will be a 12 to 18 percent loss of revenue and a 7 to 8 percent drop in employment. View Article |
Bloomberg: UK banks' loss of EU passport a `major threat,' LSE study says
The U.K. government must ensure British financial-services companies don’t lose their ease of access to the European Union after Brexit as a “matter of urgency,” according to a report backed by high-profile British economists. View Article |
UK must obey EU free movement laws until it leaves the EU, say MEPs
Until the UK leaves the EU, it must obey EU laws on free movement, said a majority of MEPs in a plenary debate with the EU Commission. View Article |
European Commission: EU equivalence decisions in financial services policy: an assessment
The Commission published an assessment of EU equivalence decisions in the area of financial regulation. View Article |
The Guardian: City watchdog sounds alarm bells over hard Brexit
A hard Brexit poses risks to the integrity of financial markets and could make it harder to protect consumers from wrongdoing by banks, the head of the City regulator has warned MPs. View Article |
Andreas Dombret: The possible impact of Brexit on the financial landscape
Deutsche Bundesbank's Dombret called on UK and EU to avoid a regulatory race to the bottom at all costs and reminded that the guiding principle of their cooperation should be to ensure a smooth transition to a post-Brexit world. View Article |
Policy Network: Britain and Europe: A new entente
A Brexit transition agency could blossom into a body encouraging economic development and political cooperation between Britain and Europe, writes Andrew Duff. View Article |
Financial Times: Equivalence makes sense for the City and Europe
Each side has a deep interest in access to the other’s markets after Brexit, in the FT's view; the logistics of establishing fully separate systems are nightmarish, and neither side, in the end, has full control of where financial activity happens. View Article |
BCC: Put practicality, certainty at the heart of Brexit negotiations
The British Chambers of Commerce published its Brexit Business Priorities report as a guideline for the UK government in its EU negotiations. View Article |
Financial Times: ‘Virtual’ Ireland border seen as template for Brexit customs deal
The UK wants to create a “virtual” border between Northern Ireland and the Republic, as a template for a new customs deal with the EU after Brexit that makes trade as easy as possible. View Article |
CEPS: After the UK’s Brexit White Paper – What’s the next move towards a CFTA?
Michael Emerson reflects on the possible next moves the UK might make to secure the Strategic Partnership May's Brexit White Paper explicitly asks for, and analyses a range of possible responses from the EU. View Article |
Bloomberg: UK faces 60 billion-euro Brexit bill, Austrian leader says
Britain should be charged about 60 billion euros when it leaves the European Union, Austrian Chancellor Christian Kern said, becoming the first EU leader to put a value on the size of the UK’s Brexit bill. View Article |
Financial Times: Financial executives sceptical on London’s future
Financial groups are betting on New York rather than London being the big winner from Brexit, a new survey of senior executives has found. View Article |
The Guardian: Hi-tech financial firms flee UK amid doubts over Brexit
Leading Fintech player says ‘the exodus is beginning’ as members of £6bn industry start seeking other bases in Europe. View Article |
The Economist: Lower immigration could be the biggest economic cost of Brexit
the impact of slashing the number of foreigners allowed into Britain could be as serious as anything that could happen to trade. View Article |
Government must ensure Gibraltar's voice is heard during Brexit say Lords
The House of Lords European Union Committee published its report on the impact of Brexit on Gibraltar in which it concluded that any loss of access to the Single Market in services, or to its cross-border workforce, could significantly harm the Rock's economy. View Article |
House of Lords Constitution Committee: Fast-tracking of Brexit Bill should not set a precedent
The House of Lords Constitution Committee published a report on the European Union (Notification of Withdrawal) Bill. View Article |
Andreas Dombret: The future of global economic cooperation - Brexit, Basel III and beyond
The Deutsche Bundesbank examined how bankers can stabilise and improve global cooperation, and discussed two current sets of negotiations: Brexit and Basel III. View Article |
ACCA: Spring Budget must be all about Brexit
Accountants are encouraging the Chancellor to put Brexit-proofing measures first and foremost in this Spring Budget, according to member body ACCA. View Article |