12
September
2019
|
14:34
Europe/Amsterdam

City Corporation Policy Chair provides update on Brexit preparations

The City of London Corporation’s Policy Chair Catherine McGuinness has today set out work being done across a range of areas to ensure businesses and individuals in the Square Mile are prepared ahead of the Brexit deadline on 31 October.

In a statement to the Court of Common Council, the City Corporation’s main decision-making body, Policy Chair Catherine McGuinness said:

SMEs

“We have heard recently from the Governor of the Bank of England that large businesses have put in place a lot of contingency arrangements that will help them navigate a no deal Brexit smoothly.

“However, I have expressed particular concerns to officers around the readiness of SMEs and what we can do to help.

“I am now reassured that, as an organisation, we have been doing as much as is practicable. We have been signposting SMEs to more information on how they need to prepare in the event of a no deal Brexit, through a variety of ways, including a specially-created website page drawing together different external resources.”

Settled status

“The City Corporation has also used a range of internal communications to advise EU citizens amongst our own staff on obtaining settled status.

“I am keen that we continue to make clear to our EU citizens, particularly residents, that they need to look into to the scheme.”

International Engagement

“At this critical time, it is important for the City Corporation to continue to champion the financial and related professional services sector, and to ensure that the UK’s world-leading offer is recognised in key markets globally, attracting talent and businesses to the UK.

“And the City Corporation has a key role in helping London remain at the forefront of global innovation in the financial and professional services sector. This includes work on:

  • supporting fintech;
  • backing the launch of the Green Finance Institute and delivering the Social Impact Institute; and
  • building on the work of Cyber-Griffin to establish the City’s role in supporting UK cyber policy.

“More generally, we are looking at enabling business success through access to skills, resilient business infrastructure and effective regulation underpinning global competitiveness.

“Our new website – The Global City – has been widely welcomed in providing a strong and attractive platform for promoting the UK’s offer in the face of strong competition.

“It is important now more than ever for us to be engaging in this, and the Lord Mayor’s promotional overseas visits assume even more importance.”

More information for businesses on how to prepare for Brexit is available at: cityoflondon.gov.uk/brexitandyourbusiness

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk