London is Europe’s financial centre, funding business across the continent
by Anthony Browne
Telegraph.co.uk
Wood pyres are being piled up high, with EU regulations stacked upon them. It’s bonfire night come early – with European red tape in place of the Guy. That may be the wish of some, but it is not the wish of the banking sector.
London is Europe’s financial centre, funding business across the continent. That isn’t just good for European growth and jobs, it is good for the UK. Mainland European companies want access to London’s deep and liquid capital markets, and having major European banks based here is good for British businesses which want access to their specialist services.
Banking is our biggest export industry by far, winning work from across the EU and bringing it back here, creating jobs across the UK – two thirds of them outside London.