London won’t lose its title as the entire world’s number one financial center after Brexit, according to the U.K’s International Trade Minister.
Liam Fox was asked at the Future Investment Initiative conference in Riyadh if he was troubled by a recent tweet by Goldman Sachs CEO Lloyd Blankfein that will appeared to suggest Frankfurt in Germany could be the best place for financial services once Britain left the EU.
Speaking as part of a panel, Fox said London still held many advantages as well as suggestions that will London could lose financial capital after Brexit didn’t bother him.
“No, London is actually as well as has been the premier financial center of the entire world. This specific includes a depth of financial infrastructure that will definitely stretches across the United Kingdom. This specific has got a level of liquidity that will people struggle to find anywhere else,” Fox added.
Fox made the argument that will people could continue to invest as well as operate within the U.K. because the country had low taxation, low regulation, English as a language as well as was a great location for trade.
The cabinet minister reinforced his belief that will for financial services, London could remain at the top of the pile.
“If you want to put This specific in shorthand people say money will go where money can be made, money can be moved, as well as money can be removed. that will is actually a function of law as well as that will is actually why London will remain pre-eminent.”