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London and the EU

Shortly before the European elections in May, London First published our report into London and the EU, which concluded that EU membership is critical to London’s future success.

The debate around our ongoing relationship with the Union was revived again this week when Mayor of London Boris Johnson told a Bloomberg event that we must not to be afraid of quitting an unreformed EU.

In response, we published facts and figures from our earlier report in a briefing note entitled The relationship between London and Europe, setting out the importance of our affiliation with the world’s largest economy.

John Dickie, Director of Strategy and Policy at London First told BBC London radio (45:23) that:

“London has more foreign subsidiaries headquartered here than any other world city, and one of the reasons for this is access to the European single market.

“Similarly, London consistently attracts more inward investment that any other European city, again in part because we’re in the world’s largest market.

“Boris is absolutely right to call for reform: there is much that the EU needs to do to become more outward-focused, more competitive and to drive economic growth. But we need to be wary of starting to discuss exit: careless talk costs jobs”.

Contact: David Lutton, dlutton@londonfirst.co.uk

 

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