U.K. to Look at Shakeup for London Finance Industry: Beyond Brexit
An estate agent's office leasing sign on a building in the City of London. Values in the U.K. capital should jump about 25% over the next five years, outpacing other European capitals, according to DWS researchers.
Photographer: Jason Alden/BloombergWhat’s happening? While London and Brussels trade jabs, U.K. ministers plan big changes in the City and delay import checks until 2022.
London’s financial sector could be on the cusp of one of its biggest shake-ups in decades. In a Bloomberg interview, Economic Secretary to the Treasury John Glen said that ministers plan to consult business in the summer as part of a wide-ranging review. As Alex Morales and Silla Brush report, the move is part of a bid to defend the City of London’s global role after Brexit.