Chris Cummings, Chief Executive of TheCityUK said:
The Europe report prepared by Gerard Lyons for the Mayor of London is welcome as it clearly demonstrates the need for EU reform and the prize at stake if that opportunity is lost. It also reinforces reform as the single best option for the UK, London and Europe. We are pleased that the Mayor of London recognises the importance of Financial Services and the fact that it needs to be regulated in a way that facilitates jobs and growth across Europe.
London is the beating heart of Europe’s financial centre, powering economic recovery through access to international capital markets and providing help that companies need to fuel growth and employ more people. A Europe without the UK would be all the poorer for its absence. That is why practitioners are of the view that it is in London’s, the UK’s and Europe’s best interests to work together to deliver a reform agenda that works. TheCityUK wishes to see a more open, dynamic, entrepreneurial Europe that can compete on the global stage.