Is it that big an 'if' ?
Bloomberg News reports that the 28 nation trading bloc hurts economic growth in the City of London and is preparing tougher rules to undermine the capital’s position as the top global business hub in Europe, Steven Woolfe, the U.K. Independence Party’s financial affairs spokesman, and Conservative party lawmaker John Redwood will say in speeches on Monday, according to a statement.
The warning ahead of Britain’s June 23 referendum on EU membership clashes with senior financiers across Europe who argue that a vote to leave could spur an exodus from London’s financial district. It also comes as Chancellor of the Exchequer George Osborne uses a speech in southern England to say a vote to leave may spark a yearlong “DIY” recession as the government tries to persuade undecided voters that the risks of a so-called Brexit are too great.
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