“We welcome the Business Secretary’s acknowledgement that some parts of the financial services industry have expressed concern about Brexit. We believe all businesses need to carefully consider the impact of Brexit and then make their views clear.

“Brexit is one of the biggest issues facing every UK firm, large or small and the referendum will be a once-in-a-generation opportunity to decide our future in Europe. We need to have an informed choice.

“What TheCityUK polling shows is that 84% of City businesses want to stay in Europe. Every business wants certainty if they are to plan effectively for the future. However Brexit would lead to years of uncertainty while we begin the slow process of untangling ourselves from Europe. If as a country we were to vote to leave then the City’s position as a leading financial centre would remain but without doubt there would be an impact on our relative size and the jobs we support.”