Agenda item

The City of London Corporation Brexit Strategy

(A) The City of London Corporation Brexit Strategy – providing an overview of the City Corporation’s activity since the EU Referendum and seeking endorsement of a proposed work programme.

For Decision

Minutes:

17 November 2016

(A)   The City of London Corporation Brexit Strategy

Following the referendum on the UK’s membership of the European Union, the City of London Corporation had been undertaking significant activity to support the financial and professional services industry and ensure London remains the world’s leading international financial centre. This paper provided Members with an overview of the strategic objectives of this work, and the activity that had taken place. Members were recommended to endorse the work programme to support the UK-based financial and professional services industry following the referendum on the UK’s membership of the EU.

 

The Chairman of the Board of Governors of the Guildhall School of Music & Drama took the opportunity to express his significant concerns as to the prospective impact of student visa restrictions and increased study costs for students from the EU, which were likely to deter or prevent some of the best candidates from applying and risk damaging the School’s world-leading status. Other Members took the opportunity to ask about plans for increased engagement with Commonwealth nations and to suggest that the next periodic review of Members’ interests and expertise include a request relative to Brexit activity and the work programme and engagement outlined in the report.

 

In reply, the Chairman outlined various instances of increased Commonwealth engagement that the City Corporation had participated in over the recent period and offered to bring back a report providing a general update on Commonwealth engagement in due course.

 

Resolved – That the work programme to support the UK-based financial and professional services industry following the referendum on the UK’s membership of the EU be endorsed.

 

Supporting documents: