City of London Corporation response on European banks story

Policy Chairman at the City of London Corporation, Catherine McGuinness, said:

“Allowing European wholesale banks to operate as normal in the UK after March 2019 is a welcome bit of news to end the year for the City.

“EU banks are a significant element of the 1.1 million jobs and £72 billion that the financial services sector generates in tax revenues each year. They are also one of the many elements, along with our openness and attractiveness to international business, that make us such an attractive global financial centre.”

This development would provide greater certainty that businesses always crave. We are pleased to see this development and it is now up to our politicians and regulators to make sure this is delivered.”