The European Central Bank has said the UK should lose it's passport (HERE), effectively the right to do business in the EU, if we exit the single market as Michael Gove has said we should do.
London as a financial centre generates huge amounts of tax revenue and while bankers have been roundly condemned for creating the 2008 financial crisis, we cannot escape the fact that they pay a lot of tax. If this is diminished taxes on the rest of us will rise.
Vote Leave dismissed this as scaremongering - now it seems to be happening.
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