A lobbying group for the City of London called TheCityUk (HERE) has warned that access to the single market is vital if London is to maintain its leading position in Europe. They say access to tap the EU’s single market “under broadly similar conditions” is “of utmost importance”.
It is clear the EU is in the stronger position. While we import a lot of their goods and the UK is an important market it is obvious we will be damaged by erecting tariff and non-tariff barriers much more than the EU. Controlling immigration, which will probably be falling anyway as the economy slows down, may have a very big price tag for The City and for HM Treasury.
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