BORIS Johnson has asked his top economic adviser to investigate what would happen if Britain left the EU, it has emerged.
The Mayor has commissioned Gerard Lyons to analyse how EU membership affects London and include a list of pros and cons of continue membership.
Lyons yesterday told City A.M. that the report was partly prompted by overseas investors asking questions about David Cameron’s pledge to hold an in/out referendum by 2017.
“This has come up with international investors and visitors to London,” he explained. “What we found when we went to the Gulf is that even though London is seen in a positive light, it’s clear we’re going to have to compete a lot harder for investment.”
Lyons will seek the opinions of leading City figures over the coming months before writing his report.
“London is at the heart of the European economy and we want it to stay that way, so we need to have a clear economic and financial analysis of the current situation,” he said.