Brexit has yet to deliver any benefit to services sector - London lord mayor

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Brexit has yet to deliver any benefit to services sector - London lord mayor
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Irish-born City chief visiting Dublin to foster closer cooperation between financial services sectors across the Irish Sea via IrishTimesBiz

It is estimated that some 7,000 jobs were lost in the UK financials services sector as a result of Brexit, some way below estimates around the time of the referendum in 2016.

“We can make sure our regulatory system is tailored to what the UK needs but it’s not going to be radical and there’s a lot proposed in the Edinburgh Reforms that have nothing to do with Brexit,” Mr Lyons said. “We want to get back to a situation where we can have sensible commercial conversations with the EU and I’m hopeful there will be some progress on the Northern Ireland protocol. Things have gone a bit quiet, which is often a good sign. That would be a necessary but not sufficient condition, we absolutely recognise that. But I would be hopeful that we could get something sorted out.”

“Keir Starmer [Labour leader] and Rachel Reeves [shadow chancellor of the exchequer] are very credible and they talk to the people in the City,” Mr Lyons said. “We are apolitical in the City and we have an open door to politicians of both parties and all parties so we don’t feel that that would be negative for the City at all.”

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