The EU will damage a proportion of the
1,517,000 international business services
jobs in London, 28% of all London
employment. Across Britain international
business services provides 15.7% of UK
The UK’s financial services sector (the City of London), which drives the business services industry, was the most dynamic part of the UK economy. The City remains massively important to the economic well-being of the UK as a whole.
Unhappily, the City of London is now in retreat, with excessive and unfriendly EU regulation being largely to blame.
As a result of new EU rules and powers the UK’s position as a world leader in this area is under threat.
The European Systemic Risk Council and the European System of Financial Supervisors have the power to close down a British financial institution. The EU has on many occasions extensively interfered in the UK's financial institutions.
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