Brexit

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Not everybody agrees that hard Brexit will be a disaster for the City..

The loss of passporting rights following Brexit is one of the biggest fears in the City of London, but it will not lead to an exodus of London firms moving to other major cities in the European Union. That is according to Sam Bowman, the executive director of one of the world's prominent think tanks, the Adam Smith Institute, who spoke at a local Conservative party conference in East Croydon that Business Insider attended on Saturday. Bowman said: "Frankfurt is too small and Paris is a regulatory nightmare for multinational companies, and tax is too high. London has enormous benefits and the UK regulatory system for finance is very good in relative terms [to other major EU cities]." "They are barking up the wrong tree if they think they're going to steal business."

Adam Smith Institute Sam Bowman: Brexit impact on financial passporting, London jobs - Business Insider