City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor

first_img The new lord mayor of London has said banks and insurers will face an “administrative nightmare” unless a Brexit deal is secured by Christmas.Former Barclays executive Peter Estlin told the Sunday Times that there was a “huge amount” of anxiety in the City despite recent suggestions that the Prime Minister was closing in on a deal. whatsapp Alexandra Rogers Earlier this month City minister John Glen said he was “extremely confident” the two sides would reach an “imminent deal” for the financial services sector, but his comments were downplayed by Treasury sources who said a deal was still being worked out.Estlin said: “It’s not done until the fat lady sings. If we don’t have real clarity by Christmas we have to work to protect consumers and households, particularly on this side of the Channel but also in Europe.”Figures released by the European Commission earlier this week predicted UK growth could drop to just 1.2 per cent next year, making it the slowest-growing EU member alongside Italy.The commission’s forecasts for 1.2 per cent GDP growth in the UK over the next two years differ from the Office for Budget Responsibility’s prediction of 1.6 per cent growth next year and 1.4 per cent growth in 2020. City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and Sunday 11 November 2018 12:45 pm whatsapp Share Tags: Brexitlast_img

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