The Prime Minister today delivered a statement providing an update on negotiations with the European Union. Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“It is deeply disappointing that negotiations appear to be heading nowhere. Businesses and households on both sides of the Channel, who rely on trading with one another, stand to be the main losers from this political game of chicken.

“The UK and EU need to work together on common challenges, such as the economic recovery we all need following COVID-19. An acrimonious separation would only increase uncertainty for businesses for months to come, at a time when they most need support.

“The City has been clear throughout that a no-deal scenario would be inappropriate given the complexity of our relationship.

“While businesses have been preparing for such an eventuality for some time and I am fully confident in the City’s fundamental strengths for the years to come, I urge both sides to consider the economic implications of their actions and strike a deal even at this eleventh hour.”

--ENDS--

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