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Mayor Of London: Bank Execs Saying They Won't Leave City, Hopeful Of EU Deal

UK

As part of his manifesto launch ahead of the 6 May election, Mayor of London Sadiq Khan states that banking executives are saying to him that they will not leave London due to Brexit, and that he is hopeful for an equivalence agreement on financial services to be reached between the EU and the UK.

  • Passage from the manifesto on financial services and The City: "I will support the City to be the world leading centre for green finance, including setting up a new financing facility to bring more investment for infrastructure in London. I will reject and fight against misguided suggestions that the key to future prosperity is a race to the bottom on regulation, and I'll press the Government to pursue stronger arrangements with the EU for London's world-leading financial services based on our shared high standards."
  • Labour's Khan is almost certain to be re-elected in May, with an unprecedented first-round win with over 50% a reasonable prospect.

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