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Article 50: Mark Boleat, Policy Chairman of the City of London Corporation, says…

“The financial and professional services sector is a key element of a strong and sustainable economy. As an industry we contributed over £128.2 billion (GVA) to the economy last year, accounted for over 2.2 million jobs across the country, and in 2015, paid £71.4 billion in tax.

“Government has kept to its commitment of triggering Article 50 before the end of March.

“The Government should seek to secure a trade deal with the EU that ensures reciprocal market access and is as close as possible to our existing arrangements.”

“It is also essential that Government obtains a transitional deal early in the negotiations, in order to provide clarity and reassurance to businesses and consumers in the UK and EU27. This will guarantee continuity of cross border trade after the end of the article 50 negotiation period and provide a bridge to the date when the new partnership agreement is ratified.”