London Deputy Mayor Confident of Post-Brexit Passporting

The transcript discusses the significance of passporting rights for UK financial services, emphasizing London's economic role and the need for its representation in Brexit negotiations. It highlights business concerns about access to the single market, passporting, and talent. The dialogue also touches on potential solutions like equivalence ratings and the importance of maintaining London's status as a global financial hub. The conversation underscores the necessity of balancing Brexit efforts with global trade opportunities.

Why is passporting considered crucial for financial services in London?

• It ensures lower interest rates for loans.

• It allows free movement of people.

• It enables financial firms to operate across Europe without additional licenses.

• It provides tax benefits to companies.

What percentage of the UK's GDP is produced by London?

• 10%

• 50%

• 25%

• 75%

What are the key concerns of businesses in London regarding Brexit?

• Expansion of physical office spaces.

• Access to the single market, passporting rights, and talent pool.

• Increased government regulations.

• Reduction in corporate taxes and subsidies.

What is one proposed solution for UK financial services to maintain access to Europe?

• Obtaining an equivalence rating from the EU.

• Implementing stricter immigration laws.

• Reducing the number of financial institutions.

• Increasing tariffs on European goods.

Why is it suggested that the UK should focus on global markets post-Brexit?

• To increase the number of tourists.

• To lower the cost of imports.

• To improve local employment rates.

• To reduce dependency on European markets.