The City’s charm offensive to win over Brussels
THE TIDE of anti-bank rules and regulations are damaging jobs and growth across Europe, City campaigners warned yesterday.
Lobbyists are hoping to persuade the next crop of MEPs to see the financial sector as a positive force which helps other firms grow, rather than as a dangerous industry in need of more regulation, an attitude which has dominated since the financial crisis struck.
“In all sectors, businesses small and large need access to finance if they are to grow. Europe’s financial markets are housed in London, and fact it is here is of benefit to every European citizen,” said Chris Cummings from TheCityUK. “Financial services should be the centrepiece of Europe’s growth agenda, as they provide the catalyst for the business investment that generates growth.”
The group has contacted every UK candidate for this year’s European elections with details of how many people in their constituencies work in financial services, and how the sector affects the local economy.
TheCityUK is also rolling out the campaign to other European states in advance of the elections this May.