City Corporation responds to Brexit extension

Responding to the EU granting a three month Brexit extension with the option for the UK to leave earlier if a deal is ratified, Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“From the outset we have been clear that a no-deal Brexit would be the worst possible outcome for the City, London and the UK. This extension is a welcome step away from the precipice.

“But as the last six months have shown, an extension on its own is a sticking plaster rather than a sustainable, long-term solution. Continued uncertainty has left business without the clarity needed to make everyday decisions on investment, expansion and recruitment.

“The next three months must see a concerted effort to find a positive solution to this Brexit impasse within the required timeframe, enabling business to get the certainty it needs to thrive.

“We have been running on the spot for far too long. We need to get off the Brexit treadmill and make real progress.”

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.