Brexit, six months on: City leader demands government allays uncertainty in the Square Mile

Oliver Gill
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The City of London Corporation said investment will dry up unless the government provides clarity (Source: Getty)

Doesn't time fly? Just six months ago half the nation was celebrating the Britain's decision to unshackle itself from the EU, while the other half had that knot in the pit-in-the-stomach feeling.

The good news so far is the sky hasn't fallen in. And this was after 2016 continued to shock and surprise us from a social, political and economic perspective.

However, the chairman of one of the City's leading representative bodies has spoken out on today's anniversary and urged the government to help London's economy and give it greater clarity on plans.

Read more: Six months on, we've lost faith in the government's Brexit negotiations

“Brexit has brought with it a significant amount of uncertainty for businesses in the services sector," said Mark Boleat, the policy chairman of the City of London Corporation. He added:

Important strategic business decisions are being delayed and much needed investment postponed or withdrawn altogether.

Firms’ nervousness can only be allayed if they know how they can continue running their business. A transitional arrangement should be agreed as soon as possible.

The comments come just a day after a poll revealed fewer than third of UK workers felt the government would get a good deal as part of Brexit negotiations.

However, Boleat said his organisation would continue to pressure the government to ensure the Square Mile remains front and centre of Brexit negotiations.

Read more: All I want for Christmas is... an ultra-hard Brexit

“I have spent the last six months seeking to ensure that the City’s importance is recognised by key decision makers in the UK and Europe, and I will continue to do so going into 2017," he said Mark Boleat.

And despite concerns over plummeting consumer confidence Boleat gave the City hope as 2016 draws to a close, he believes London would not lose its financial powerhouse position.

“I have no doubt that whatever happens in 2017 that the City of London will remain the world’s leading financial centre. However we cannot be complacent and must continue investing in infrastructure and education while working to secure the best possible business links with the EU and the world.”

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