Agenda item

Report of the Director of Economic Development.

Members received a Deep Dive report of the Director of Economic Development relative to Corporate Risk CR02: Loss of Business Support for the City and the activities of the Economic Development Office (EDO) to mitigate this risk.

The Director advised that the EDO focused on addressing the short transition to Brexit; the need to continue to attract talent to London; and the importance of mutual recognition of trade rules between London and its trading partners. The Director emphasised that CR02 was not solely focused on Brexit, and that Brexit was only one element of the risk of loss of business support. The EDO is focusing on innovation and green finance in order to strengthen activities in the UK, and working to strengthen relationships outside of the EU, such as with the United States.

RESOLVED – That Members note the actions taken and the activities underway to mitigate Corporate Risk 02: Loss of Business Support for the City.