TheCityUK responds to PM’s Brexit speech

TheCityUK responds to the ‘Road to Brexit’ speech delivered by the Prime Minister, Theresa May.

Responding to the Prime Minister’s Brexit speech this afternoon, Miles Celic, Chief Executive Officer, TheCityUK, said,

“The Prime Minister has today set out an ambitious and pragmatic vision for a mutually beneficial relationship between the UK and the EU. She made a detailed and practical proposition and it should put to rest any suggestion that the UK has not made its intentions and ambitions clear. We hope to see the EU respond positively and constructively to what the PM has proposed and allow negotiations to move forward.

“We are very pleased to hear support for many of the proposals made by our industry. These will help ensure continuation of service for customers on both sides of the Channel. We fully support the commitment to prevent any bonfire of standards - the UK’s global success as a financial centre has been built through world leading regulators and supervisors, not through a race to the bottom.

“There is a clear and pressing desire on both sides of the channel to get a deal which makes economic sense and which preserves wider European jobs and growth. We cannot allow political point scoring, or unnecessary barriers, to take wealth and prosperity out of the pockets of UK and EU citizens.”