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Mayor Pressed To Publish A Brexit Plan Of Action

LONDON ASSEMBLY BREXIT DIRECTIVE II–A Brexit strategy for London

London needs a published plan of action to give the capital and the financial markets further reassurance. This should cover issues including the impact of Brexit on future funding, London’s financial services sector and the regulatory framework for environmental standards.

The London Assembly EU Exit Working Group also wants the Mayor to make it clear to the Government that leaving the EU with no deal in place on trade, or a transition period could have a disproportionate effect on London.

In a wide-ranging letter to the Mayor, the Assembly’s EU Exit Working Group urges him, in his regular meetings with David Davis, Secretary of State for Exiting the European Union, to make the case for protecting the future of the financial services sector in London and to continue to push the Government to accelerate the development of the UK Shared Prosperity Fund.

Len Duvall AM, Chair of the EU Exit Working Group said:

“After our recent meetings with the Mayor, Lord Heseltine and experts on European funding, this letter pushes for further action in relation to the financial services sector and funding regimes - and highlights the need for an overall plan.

The Mayor has a plan for housing in London, a plan for the environment, a plan for transport – but he also needs to have a proper Brexit plan.

This would give Londoners and the financial markets further reassurance that the Mayor is addressing their concerns and keeping up the pressure on the Government to reflect London’s needs in the negotiations with the EU.”

Read the full letter here