Continuity of EU Position

Meeting: 
MQT on 2015-09-16
Session date: 
September 16, 2015
Reference: 
2015/2586
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Do you agree with the LEP's 'London: 2036' document when it says London's position as a global hub "could be put at risk by national policy on both immigration and Europe"? If so how do you reconcile this with the assertion of your Chief Economic Advisor in his 2014 Europe Report that, "For many aspects of the London economy, the day after any No decision in the referendum would be little different in economic terms from before"?

Answer

Answer for Continuity of EU Position

Answer for Continuity of EU Position

Answered By: 
The Mayor

The Government's negotiations with Europe and promise of a referendum will have profound effects, whether the country decides to stay within the European Union or leave it. Thus it is obvious that there are risks inherent in our decisions. The best approach for London, as set out by my Chief Economic Advisor, would be for the United Kingdom to remain within a reformed and more competitive European Union. However, remaining within an unreformed and uncompetitive European Union would also present risks for the London economy, as the report makes clear.