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The Corporation’s primary-decision making body, the Court of Common Council, voted overwhelmingly that: “Taking into account the views of City stakeholders and businesses, the City of London Corporation supports the United Kingdom remaining a member of the European Union.”
The Council discussed a report which pointed out how access to the single market in financial services provides significant benefits for the UK financial services industry and for consumers.
After today’s vote, Policy Chairman at the City of London Corporation Mark Boleat said:
“The City of London Corporation cannot afford to remain quiet on the biggest issue facing the UK at the moment. When City firms of all sizes and in different sectors, who we represent, are voicing their concerns about the risks of leaving the EU, we need to make sure the City of London Corporation remains relevant to our stakeholders.
“While we might be criticised for taking such a stance, we need to speak up and encourage others to follow suit. We have taken positions on controversial matters like a new Heathrow runway and immigration policy in the past and can no longer be a silent partner in the run up to the 23rd of June.”
The Court of Common Council works through committees, like many other local authorities, but it is unique in that it is non-party political. It is represented by 125 Members. Its main business focuses on the reports of committees, motions and Members' questions.
Mark Boleat’s full speech can be found here.