Page 4 - DWF London Blueprint for Growth

The impact of Brexit

Trying to predict what might happen post-Brexit starts London, suggesting that leaving the single market might
with an understanding of why businesses have chosen not be as negative for the UK economy as some fear.
London as their home in the first place. According to However, access to the single market plays a big role in
our research, London’s position as the main financial London’s position as a financial hub. Losing this could
centre in Europe and one of the biggest in the world has have lasting implications on the city’s financial clout.
been the biggest motivating factor – with 63 per cent of As the UK heads towards Brexit, the message from
respondents citing this as one of their top three reasons. the C-suite is clear: the reasons executives have chosen
Hearteningly, only 23 per cent of respondents included to base themselves in the capital are under threat, and
“access to the single market” as a reason for being in with them London’s position of power.

How FTSE 100 companies’ strategies
of respondents
will be impacted if the UK does not
think it will be more
retain access to the single market difficult to access
capital post-Brexit
We will invest more
We will invest less of FTSE 100 banking
%
There will be no impact 71 executives view the
25% UK’s uncertain political
climate as their greatest
barrier to growth
46% sectors (barring transport)

8/9 have found it more
29% difficult to recruit the best
talent, from the UK and
abroad, following the UK’s
decision to exit the EU

If not London, where? Cities viewed as the greatest and least competitive threats to London

Greatest threat Least threat

45% Berlin
49% Frankfurt
3% Chicago
65% New York
15% Shanghai
67% Hong Kong

54% Singapore

4% Milan
8% Paris
1% Manchester