Agenda item

The Chairman of the Policy and Resources Committee updated the Court on current issues concerning Britain’s position in the European Union and the impact of that on the City of London.

He explained that the Policy and Resources Committee had considered the matter in some detail at a recent meeting and agreed key messages, informed by business, that would guide the City’s dialogue on Europe in the future, namely:-

·        promoting London to policy makers as Europe’s international financial and business centre;

·        explaining the role of financial and professional services in supporting the wider economy;

·        that Europe needed to reform to be more competitive in the global economy;

·        strengthen and complete the Single Market; and

·        that the UK needed to be fully engaged in EU policy making.

He added that the Committee had also agreed that the strategy on engagement with Europe should be based on six key aims:-

·        greater engagement with EU institutions;

·        greater engagement with EU Member States;

·        dialogue around the City’s role as Europe’s international financial and business centre, and its role in the wider European and global economy;

·        contributing evidence to the debate on the economic benefits and costs to the UK of membership of the EU, and vice versa;

·        working with third parties, such as think tanks, political groups and business organisations, to provide forums to make the case for the importance of the Single Market to the UK; and

·       facilitating the debate with third parties such as CBI, on the reform agenda to support City and wider European economic competitiveness.