“The City in a post-Brexit world - Is this its greatest opportunity in decades?”

New: ‘The CityUnited Project’ campaign group and think-tank launches today

City professionals, senior politicians, and finance specialists have today responded to the recent challenges laid down by the EU in the new post-Brexit world.

Brexit Facts4EU.Org is pleased to announce the launch of The CityUnited Project, a practitioner-led initiative setting out a vision of a world-leading and prosperous UK financial services industry, setting global regulatory standards in partnership with other major financial centres and in contrast to the increasingly protectionist EU financial services markets.

Who is behind this?

Facts4EU.Org has been integrally involved in the set-up and launch of this new think-tank and campaigning group and our Editor is its Vice Chairman.

Supported by leading politicians, Sir Bernard Jenkin MP, David Jones MP, Lord (Norman) Lamont, Lord (Daniel) Hannan, and Anne-Marie Morris MP, it speaks positively and authoritatively for the industry’s future opportunities and rebuts the current round of negative and under-informed stories about EU share trading and loss of access (due to lack of “equivalence”) to EU markets.

The CityUnited Project's Political Advisory Board: Sir Bernard Jenkin MP (Chair), David Jones MP, Lord (Norman) Lamont, Lord (Daniel) Hannan, and Anne-Marie Morris MP

The group will build on and promote the City’s outstanding track record of product development and innovation, particularly in Fintech. It also seeks to show how the industry can enhance employment in the City and in regions and financial centres such as Belfast and Edinburgh and throughout the Union.

‘The CityUnited Project’ says that the Government must now accept that the EU has in effect denied normal cooperation with the City and its associated financial services, which represents one of the powerhouse engines relied on by the Eurozone itself, as well as by the wider European economy.

Together the new group is responding with initiatives, policies, and recommendations for the Government. Part of its aim is to combat and negate the EU’s actions. It will also be promoting bold new initiatives to exploit the UK’s expertise in financial services and to re-set the agenda for global financial services.

“A global City and UK financial services industry, serving the world”

The CityUnited Project’s Chairman, Professor Daniel Hodson, commented:

“Our vision is a global City and UK financial services industry, serving the world and supported by a fair and competitive regulatory and taxation framework and the highest skills possible.
“New opportunities are opening up to secure the City’s global leadership in regulation and product development. The role of financial services in generating employment in the City and regionally (including in Scotland, Wales and Northern Ireland) is more important than ever and can strengthen the Union.
“We see a massive chance to strengthen and enhance the UK’s existing position in global regulatory leadership, working in partnership with other major financial centres across the world, in contrast to the increasingly protectionist financial markets of the EU.”

Facts4EU.Org's managing editor and co-vice chairman of the CityUnited Project, put matters into a wider context:

“Across the Brexit spectrum the Northern Ireland Protocol and its effect on peace and stability in the Province, the EU’s refusal to allow the continued importation of unprocessed shellfish, and even the confiscation of ham sandwiches from truckers at Dutch ports – these have all taken their toll on the UK-EU relationship.
“Within this mix we now have by far the largest issue from an economic perspective - the enormous but exciting challenges caused by the EU’s refusal to deal rationally and reasonably with the UK on financial services. There’s a great deal that now needs to be done and The CityUnited Project is looking forward to embracing these issues with all interested parties, including Government.”

Likely to challenge and disrupt?

The new group’s website already contains numerous articles, some of which are likely to be considered innovative and radical. Over the coming days and weeks The CityUnited Project says it will be publishing more pieces from respected figures from the worlds of finance and politics.

“The post Brexit City and UK financial services industry stand at the gateway of their greatest era of prosperity and global leadership” – The CityUnited Project, 2021.

“Daily we read negative stories about our markets and their future. We hear of equity trading moving to the EU, the euro rates derivative business - invented here - being arm twisted out of London by the EU as it encircles trading, sales, clearing, settlement and payments exclusively on the continent. And yet we hear nothing from the City authorities, no rebuttal, no defence. Well that changes now with The City United Project.”

- Danny Corrigan, co-Vice Chairman of The CityUnited Project

The CityUnited Project has set out ambitious objectives

To support the development and consolidation of the world’s leading financial centre in the City of London, and a strong and prosperous financial services industry throughout the UK
To help to achieve a radical reform of UK financial service regulation, creating a global regulatory framework and standards as an independent sovereign nation in equal partnership with other major financial centres, in contrast to the increasingly protectionist financial markets of the EU
To provide a well informed, unbiased and balanced representation of the mainstream views of the UK financial service industry and particularly the views of British owned firms and front line practitioners
To sponsor innovation and global product development, and specifically in maintaining Britain’s global standing in Fintech
To help to attract the top global financial services talent to the UK through the creation of appealing job opportunities and a benign tax environment and an appealing personal lifestyle
To encourage the reshoring of overseas financial services operations where appropriate and through regulatory reform, the growth of attractive liquid markets and services, and a suitable tax environment
To assist in growth in employment in the financial services industry across the UK through proportionate regulation together with a benign tax framework including Special Economic Zones, with particular emphasis on strengthening the Union and regional development, and specifically in centres like Edinburgh and Belfast
To promote appropriate detailed sectoral regulatory reform in support of practitioners and their representatives across all the diverse activities of the financial services industry
Without priority and in the fullness of time to support a balanced and beneficial financial services with the EU, representing and respecting the interests of independent and important international sovereign states

Observations

A positive post-Brexit attitude - and pro-activity in developing our post-Brexit future

The Brexit Facts4EU.Org team has been pleased to have been involved in the launch of this important new initiative in the post-Brexit era. We will continue our integral involvement and will publish further news as it happens.

Whilst it is important to report on the ongoing negativity of the EU towards the United Kingdom since its formal departure, it is even more important to highlight the opportunities which can open up for the UK's world-leading financial services sector in all the (non-EU) markets around the world.

There are significant opportunities for the UK Government to achieve a radical reform of UK financial service regulation, creating a global regulatory framework and standards as an independent sovereign nation in equal partnership with other major financial centres, in contrast to the increasingly protectionist financial markets of the EU.

We would love to keep the team together, working for you

We are most grateful to readers who have donated this year, but we badly need more readers to do the same. 10 readers donating £500 per month, or 50 readers donating £100 per month, or 1000 readers donating £5 per month - on top of the one-off donations and monthly donations we currently receive, this would just about keep us going.

We have far more to do in researching, publishing, campaigning and lobbying Parliament than we have in terms of the financial resources to fulfil these tasks. We rely 100% on public donations from readers like you. Unlike the Remain/Rejoin camp, we do not have foreign billionaires to subsidise our work.

If you believe in a fully-free, independent, and sovereign United Kingdom, and want to see the full benefits of Brexit being delivered, please make a donation now. It’s quick, secure, and confidential, and you can use one of the links below or you can use our Donations page here. You will receive a personal, friendly ‘thank you’ from a member of our team within 24 hours. Thank you so much if you can help to keep us going.

[ Sources: The CityUnited Project | Our Editor ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Mon 15 Feb 2021

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Reader Comments 14

1. Hugh , Monday, February 15, 2021, 07:52:

Yes, Britain has to now look and act on taking all the opportunities that Brexit has to offer - and there are plenty!
Only backward-thinking, communist-mentality bodies like the EU think that the way to 'equality' is to sink everyone to a lower standard. The way to prosperity is the exact opposite. I wish this new project every success.

2. Buster , Monday, February 15, 2021, 09:35:

Backed by precisely the same ... who sold Brexit. The City didn’t want Brexit and really wants nothing to do with these economically illiterate ... . Clear off and spend time with your jobless fishing friends. We don’t want people like Welsh Jones, unelected posh Hannan, failed Chancellor Lamont or ... Jenkin in our great multi-cultural
City. Those little Englanders (and Welsh) are not welcome here.
NOTE: abusive content edited out by site moderator

3. Mandy, Sheffield , Monday, February 15, 2021, 10:24:

Great news and great piece as ever, remoaners will hate it! They can't stand the thought that the UK will prosper. How foolish they are.

4. Roger R , Monday, February 15, 2021, 10:29:

Dear EU, watch and weep.

5. Helen N , Monday, February 15, 2021, 11:05:

Roger R, they are weeping. In fact Donald Tusk started weeping the day the referendum result was announced. He looked like he'll have a nervous brakedown.
Juncker on the other hand wasn't, but then he doubled his usual (already impressive) Cognac intake that day as a precaution, to smooth his nerves.

6. Keith from Leeds , Monday, February 15, 2021, 11:54:

Buster, Comment 2 - Why visit the site if you are so pro EU. Why make unpleasant, childish comments about people you don't know. The simple truth is that Brexit does open some new opportunities for the UK in every area but it is far too early to judge how well we take those opportunities. The jury will be out for some years but I am confident that a few years hence the only question asked will be why did we not leave sooner. I am happy for the EU to prosper as well as it is a market for us, but the world is now our market and I am sure Buster will be pleasantly surprised how well we do. So I suggest a little patience and respect for people who are doing things, not sitting on the sidelines criticizing. I feel sorry for you, Buster, that you have such a bitter, unhappy life.
So let us welcome any inititive in any area that is focused on growing and developing the UK in the post Brexit world. As Winston Churchill once said, " If the UK has to choose between Europe and the open sea, it must choose the open sea every time.

7. Jon, Wales , Monday, February 15, 2021, 13:59:

The report regarding the think-tank is indeed uplifting.
Why is this important, and why does it matter?
Answer: Because aside from those great Brexiteers (pictured - and I thank for staying the course), the Vice Chair of this think-tank (as reported here), is the Editor of Brexit Facts4EU.org.
Important because we can be almost certain FACTS about the unaccountable EU end up in the hands of 'power', with related questions perhaps raised in the House of Commons - with those MP's knowing they have factual information.
The age old saying of speaking truth to power, proves Brexit Facts4EU.org is trusted by many in power, and a force for good.
The BBC [UK national broadcaster] should hang their heads in shame for not reporting facts from Facts4EU over all these years (and if they did, I must have blinked or been deaf)! Though we must not allow SkyNews off the hook either.
That said, I wish to commend the Express for picking up occasional Facts4EU articles to spread to a wider audience.
I am pleased Brexit Facts4EU.org has maintained a 'party-neutral' stance, except on rare occasions where it needed to debunk party politics.
For the price of a couple of cups of coffee, readers can sign up to the BREXIT INDEX to help assist with production of ongoing FACTS.

8. TomTom , Monday, February 15, 2021, 17:04:

UK was always in the lead in inventions and technology. Now that we're freed up from the decades of EU shackles it's time to take our lead again.

9. L.Bignold , Monday, February 15, 2021, 19:50:

Sounds like a great initiative and not before time.
The EU can’t be relied on to work towards financial equivalence given its track record in other negotiations during the last year or two.

10. One eyed king , Monday, February 15, 2021, 19:59:

There is nothing little about England. Nor its inhabitants, the likes of which are consistent throughout academic history, regarded as the giants whose shoulders we stand and surf upon now.
When the stifling boot is lifted, it is these very people that rise together.
And when they stand snears turn to fears
Buster i love the British people, they are just living in strange times and need showing the light

14 comments, page 1 of 2

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