The Prime Minister comes out fighting for the City as she vows to back financial services and warns the EU against a power grab

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Theresa May spoke exclusively to City AM's editor Christian May (Source: Getty)

Theresa May has vowed to work with the City and financial services throughout the Brexit negotiations, if she wins the General Election.

The Prime Minister also sent a warning shot to Brussels that the City of London’s dominant role as a global hub for financial services “cannot be done by somebody else at the drop of a hat”.

In an exclusive interview with City A.M. May took aim at EU plans to “punish the UK” and stressed that any attempt to undermine the City would backfire.

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With less than a week until polling day and with Brexit negotiations due to kick off soon after, May said that EU states “all benefit from the expertise, the skills, the size and the capability of the City and anything that diminished that would not be sensible”.

In her first City-focussed interview as PM, May urged EU member states to recognise “the significant role that the City plays in supporting their economies and their businesses,” adding “it takes years to build up the whole eco-system that supports financial services”.

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May vowed to recognise the interests and the needs of the City and financial services during the negotiations, and said she is optimistic about securing a good free-trade deal with the EU “because member states do see the importance of that relationship with us”.

May warned that a Corbyn victory would “have a hugely negative impact on our economy” and would see “reduced investment, fewer jobs and businesses being driven out of the UK”.

Read Theresa May's full interview with City A.M. here.

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