Brexit news: European Union’s attempt to plunder City of London industry fails | Politics | New
Brussels failed to harm Britain’s major economic industries after Brexit, Lord Powell said. Margaret Thatcher’s former adviser told Chubb the City of London has resisted threats from the European Union since Brexit. He pointed out that there were more people working in the small square mile of the City of London than in the entire city of Frankfurt, which had once hoped to overtake the British capital as a financial center after Brexit.
He added: âMore people work in the small square mile of the City of London than live in the whole of Frankfurt.
“That tells you something! It’s not going to change.
âIf the Europeans want to make difficulties with financial services, they will try, in order to recover some of the business for themselves.
“But I have no doubts that London will remain one of the four world financial centers, alongside New York, Tokyo and Hong Kong.”
Goldman Sachs boss Richard Gnodde echoed this point in a BBC interview this week.
He said the British capital would remain dominant as a leading financial center after Brexit.
Mr Gnodde added: “Look at the last century and the problems this country has been through and we have absolutely no doubts that the British people will take it forward again.”
Earlier this week, New Zealand Prime Minister Jacinda Ardern admitted that talks to admit Britain into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) were “well advanced.”
Comprised of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, the bloc was worth Â£ 110 billion in trade British in 2019.