In response to the comments made by Anthony Browne, Chief Executive of the British Bankers’ Association, Richard Tice, Co-Chair of Leave Means Leave said:
“These vague claims are nothing more than a continuation of the scaremongering that went on during the referendum campaign.
“The reality is more EU businesses have passports into the UK than UK businesses into the EU.
“If the EU were to restrict access to its markets, it has far more to lose than the UK. The UK has the deepest capital market in the EU, and therefore the lowest cost of capital.
“Similar apocalyptic predictions were made when the UK took the sensible decision to not join the Euro. There were claims that finance would move away from London towards the Eurozone, particularly Frankfurt.
“They were wrong then as London has near total dominance of most high end financial service based products and they are wrong now.
“The banks may be doing a bit of extra brass plating but this is totally immaterial to the bigger UK picture.”
23rd October 2016.