We all need to show that London is open for business
W E need to take seriously any concerns that firms find the UK a more difficult place in which to raise capital.
There is no doubt that other financial centres have long sought to replicate London’s world leading success and, in so doing, to capture some of the market share.
Should they succeed in achieving these ambitions, there are concerns that London’s competitive advantage may be eroded and that the perception of London as a welcoming business environment in which to raise capital may be diminished.
What is vital is that all of the key stakeholders involved in this process – especially institutional investors and investment banks – act in such a way so as to demonstrate to the international business community that London remains well and truly open for business.
Stuart Fraser is the Policy Chairman, City of London Corporation.