London Lord Mayor Warns of Cost as Tories Moot EU Exit

The head of the City of London authority said the threat of U.K. exit from the European Union is a “sword of Damocles” creating uncertainty for business, a day before a conference to debate changes to the bloc.

Fiona Woolf, the lord mayor of the capital’s financial district, called for Britain to be at the heart of a reformed, more competitive EU, saying London “values being the gateway to the single market.”