London, UK, who needs the EU?

Sailing away from the EU could be a boon for City, says Icap chief Spencer - Analysis & Features - Business - London Evening Standard: "Icap, with annual revenues of some £1.5 billion, has offices in 32 countries employing just under 5000 people. Spencer believes that London is still a magnet for many of the top people in finance. “London remains a major attraction when it comes to recruiting people,” he said. “I hope that the Conservatives win the next election outright, and that will help to make it even more attractive. Free of the constraints of the Coalition, they could pursue more Conservative policies including tackling personal taxes, which remain too high.” Spencer does not think an exit from Europe would particularly damage the City’s ability to do business. “We would still be the world’s sixth-largest economy. Countries such as South Korea and Canada do perfectly without huge trading blocs,” he said. “Similarly, many of the world’s  biggest financial centres — such as Switzerland, Singapore and Hong Kong — do not have huge domestic economies behind them.”"

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