Benefits of Brexit
The City of London is apparently not that keen on a wave of de-regulation that the Government is proposing after Brexit. This is hardly a surprise because the City is lightly regulated anyway, it was light regulation that led to the credit crunch and if they had wanted lighter regulation they probably could have had it inside the EU anyway.
The same applies to the rest of the UK, it already had numerous opt outs and exemptions from the bits of EU legislation and policies that it didn’t like. In fact the UK had been highly successful at making the EU’s policies more realistic and avoiding ones it didn’t like.
That ability is gone now but that doesn’t mean the UK is totally free to set its own rules. If they give it an unfair advantage the EU can put tariffs on its exports or in the case of the City just stop it doing business in the rest of Europe. That power tends to make firms nervous and reluctant to offend, not that this Government seems to care what business actually wants.
https://jonty.substack.com/