Why 110 bosses are backing Leave campaign in the EU referendum 30 April
There's been plenty of headlines here, and elsewhere, for reasons for the UK to Remain in the EU so here's one that goes a small way to redress the balance. Ok, so it's focussed more on the City than the UK economy as a whole but given that our services sector contributes round 80% to GDP it's not be undervalued.
A letter published in the London Evening Standard yesterday shows that more than 100 business leaders have thrown their weight behind the campaign to leave the EU, arguing the City would "thrive and grow" outside the EU.
Ex-HSBC boss Michael Geoghegan, former Channel 4 chairman Luke Johnson and the stockbroker Peter Hargreaves are among those backing a Leave vote on 23 June arguing that excessive regulation poses a threat to London's pre-eminence in the global financial services industry. They go on to say that Brussels meddling represents "a genuine threat" to Britain's financial services industry.
"We believe the City is most likely to strengthen its lead as the world's largest international financial centre, and continue to make a major contribution to the UK economy and employment, outside the EU but with continued access to its capital markets."
There is scant evidence that the EU will foster or support the kind of innovation which is essential if Europeans are to compete with the rest of the world.
"Specifically, we worry that the EU's approach to regulation now poses a genuine threat to our financial services industry and to the competitiveness of the City of London."
For the record I remain in the Undecided camp and will continue to seek convincing evidence as to where place my Vote on 23 June.
Full Evening Standard article here, and the BBC attempts to produce a "Brexit issues made simple" analysis here.
PM Cameron vs PM-hopeful Johnson. Who will emerge victorious after 23 June
