The EU has admitted that it needs the City of London as Rishi Sunak is urged to seize the benefits of Brexit.
Analyst David Buik suggests that Keir Starmer would waste the benefits of Brexit by “watering things down” with the EU.
Buik – who has previously worked for Kirkland Whitaker and London Deposit Agencies – also warned that the Remainer hatred of Brexit is “getting worse”.
It comes after an EU report implied it needed London to enhance “global reach”.
Last month, a report on the implementation of the EU-UK Trade and Cooperation Agreement by the European Parliament states that the deal offers the EU “an opportunity to develop and strengthen its own financial services infrastructure and expertise in order to promote business competitiveness, investment, economic stability and consumer protection”.
It also “acknowledges that the City of London remains a global centre for financial services with a global reach that EU business could benefit from accessing”.
And “recognises the importance of a strong financial services sector for both the EU and the UK and supports efforts to enhance the EU’s financial services infrastructure and expertise”.
Buik told the Express: “When it comes to Project Fear, I got very cross about it and I made that pretty clear. But I think having had time to reflect, that if I had been part of the Remain camp, I probably would have done the same thing.
“Brexit is in my opinion a wonderful opportunity for what I call medium-sized enterprises.
“They’re the people that eventually are going to really do well out of this, although it might be when I’m pushing up daisies.”
“George Osborne was the person who coined the phrase Project Fear, or it was coined as a result of comments he made, I think that’s fair. I think I’d have adopted the same thing, but it actually turned out to be incredibly negative.
“Whether it’s just in the last year of this Government they need to do it. Because there is a very strong feeling that if Keir Starmer gets into office, and I think that’s highly likely, he will just water things down, and I think it’d be a waste of 10 years.”
Sunak has previously argued that London had a crucial role to play when it came to the war in Europe.
Speaking at the Lord Mayor’s Banquet at the Guildhall on November 13. he said: “Together we’ll strengthen Ukraine’s defence and boost their economy so they can thrive even while they fight to regain their territory.
“And, to do so, Ukraine needs the City of London. It needs all of you, it needs expertise and capital – and war risk insurance to support trade and investment and keep the ships moving. I know you’ll deliver.”
