According to Lord Powell, Brussels did not harm Britain’s major industries after Brexit. Margaret Thatcher’s former advisor told Chubb that the city of London has withstood threats from the European Union since Brexit. He pointed out that the tiny square mile of the City of London has more people working than the entire city of Frankfurt, which was once hoped to overtake the British capital as a financial center after Brexit.
He added: “More people work in the small square mile of the City of London than in all of Frankfurt.
“That tells you something! That won’t change.
“If Europeans want to get into trouble with financial services, they will try to get some of the business back for themselves.
“But I am absolutely confident that London will remain one of the four global financial centers alongside New York, Tokyo and Hong Kong.”
Goldman Sachs boss Richard Gnodde repeated that point in an interview with the BBC this week.
He said the British capital will remain dominant as the world’s leading financial center even after Brexit.
Mr Gnodde added: “Look at the last century and the problems this country has been through and we are absolutely confident that the British people will bring it forward again.”
Earlier this week, New Zealand Prime Minister Jacinda Ardern admitted that talks to join the UK in the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) were “well advanced”.
The bloc, which consists of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, accounted for £ 110 billion worth of British trade in 2019.