UK prepares to protect its golden goose in EU talks | 5,500 UK-based finance firms could lose EU ‘passporting’ rights

Protecting the UK financial services industry (often called 'the City of London') will be a key feature of the United Kingdom's government's objectives in negotiating its withdrawal from the European Union - including the nature of the future relationship between the EU and the UK.

TheCityUK, a professional body which champions the UK-based financial and related professional services industry, published a report called 'UK financial and related professional services: meeting the challenges and delivering opportunities' in August 2016.

The report set out a future vision for the UK-based financial and related professional services industry to ensure its long-term growth and success. As an international leader, the industry started from a strong position.

However, as it became more global, competitive and technology fuelled, and with added headwinds from the prospective exit from the EU, the report warned that complacency was not an option. The structural challenges facing the industry must be addressed now and new opportunities created or its competitive advantage, and the continued attractiveness of the UK, could be challenged.

• Primary Source

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