The City of London Corporation has been very active on Brexit negotiations since June
Today the full Court of Common Council received our latest update and I summarise here some of the Corporations activity:
The City Corporation is working with TheCityUK, whose focus is:
- Deliver clarity and stability to the extent possible on the exit process.
- Defend the UK’s pre-eminent position in financial and related professional services.
- Map out an exit from the EU which maintains access to key markets while safeguarding future relations.
- Move swiftly to advance trade and investment opportunities with the rest of the world – both in developed and developing economies.
- Develop an even deeper partnership between government, regulators and business.
The Corporation is also working with the International Regulatory Strategy Group
The International Regulatory Strategy Group (IRSG), chaired by former Treasury Minister Mark Hoban, is an advisory body to both the City Corporation and the TheCityUK. It has representatives of all the major City businesses and trade associations, and is focused on the detail of regulatory issues. Both the City Corporation and TheCityUK provide resources to support the IRSG. The IRSG has commissioned a number of new workstreams looking at regulatory issues relating to third countries, global competitiveness and regulatory coherence.
Trade Associations
The City Corporation has convened regular meetings of the major trade associations, providing them with a forum in which to exchange intelligence, emerging views and representational strategy.
City Corporation’s EU Engagement programme
- The City's Special Representative to the EU, Jeremy Browne (pictured), has an extensive programme of engagement with EU member States, both with ambassadors and visiting ministers and officials in the UK, and in visits to EU Member States. By the end of October, he will have visited twelve EU Member States since the referendum, explaining the views of UK-based financial and professional services, and listening to the views and priorities of business, government and regulators in other Member States.
- We meet regularly with the diplomatic community (Ambassadors, High Commissioners and their staff) based in London to share information and views on Brexit-related issues.
Policy Agenda
The City Corporation has commissioned two research projects to provide new analysis on the potential impact of the Brexit outcomes. First, a research project exploring how European corporates access financial and professional services in London, based on new analysis and qualitative interviews with leading businesses. Second, a research project looking at potential labour market issues created by the referendum outcome, including options for ‘regional visas’.