Theresa May has warned the European Union not to undermine the UK
She told City AM the city is “an incredibly dynamic place to work” and will survive any instability following Brexit.
Mrs May said she will fight to protect the city during exit negotiations with EU leaders, should she win next week’s General Election.
She said: “I’ve talked about the need to get a really good trade agreement with the EU. It’s not just about goods, it’s about services as well.
“We have that huge benefit of the City and we need to make sure we’re getting a good deal for the City.”
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According to a new index, the EU27 countries fall into three groups: hard-core, hard and soft. These are the countries with the highest scores which indicate a fairly strong opposition to Britain’s position
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France has the highest score in the index at 32.5
She said countries like Germany or Ireland, who have previously expressed an interest in attracting UK-based services after Brexit, actually benefited from the current situation.
Mrs May said: “We hear those voices raised from other EU member states who think they might have an opportunity to encourage the development of their financial services, of certain parts of the EU becoming the sort of financial centre that London is.
“I think what we need to show is two things: first of all this doesn’t happen overnight, it takes years to build up the whole eco-system that supports financial services, and the City of London is a benefit to other countries, to businesses in other countries.
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“I think they all benefit from the expertise, the skills, the size and the capability of the City and anything that diminished that would not be sensible for them.”
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Theresa May said the EU should not attempt to steal financial services from London
Dublin, Germany, the Netherlands and other states have all launched charm offensives in an attempt to attract financial services to their countries from the UK.
Earlier this year Eoghan Murphy, the Irish minister of state for financial services, visited London where he touted the Irish capital as the “location of choice” for financial services.
Several EU states are attempting to lure financial services from London
He said: “Given the European Banking Authority’s crucial role across Europe, we must ask ourselves what would be the least disruptive, and therefore safest place, to move the EBA to?
“We have to prioritise minimising disruption of the banking supervision regime in Europe. In my view that puts Dublin at the front of the queue. So we’re going to be very ambitious for this project."