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British PM faces toughest task since end of WWII: City of London policy chairman

Xinhua, December 23, 2016 Adjust font size:

Theresa May's government faces the most complex and nationally important international negotiations since the end of World War Two following the Brexit vote, a leading financial expert from the City of London said Friday.

Mark Boleat, policy chairman at the City of London Corporation, gave his view in an interview on how the City and Britain's financial and professional services industry has been affected over the six months following the June vote.

Boleat also looked forward to what the City wants to see in the first half of 2017.

He said he had no doubt that whatever happens in 2017 the City of London will remain the world's leading financial center. However, he added, "We cannot be complacent and must continue investing in infrastructure and education while working to secure the best possible business links with the European Union and the world."

May says she will trigger article 50, the two-year long mechanism to start the EU exit process, by the end of March 2017.

"It has been a politically turbulent six months, both here in the UK and abroad, following the country's decision on June 23 to exit the European Union," said Boleat. "Theresa May's government has the most complex and nationally important international negotiations since the end of World War Two ahead of it, and for the good of British business, and workers in Britain we must get this right."

"Financial and professional services employ more than 2.2 million people across the UK, and contribute more than 71 billion pounds (88 billion U.S. dollars) in taxes to the public purse every year. These industries are not just vital to the UK however, as London serves as Europe's financial hub, financing growth and prosperity across the European continent," he said.

The City of London Corporation provides local government and policing services for the financial and commercial heart of Britain, known as the "Square Mile". Endit