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Brexit: London needs special role, says Mayor


Labour's London Mayoral candidate Sadiq Khan and member of Parliament for Tooting walks through East Street Market in Walworth on May 4, 2016 in London, England.<meta itemprop="author" content="Rob Stothard Photography

Labour’s London Mayoral candidate Sadiq Khan and member of Parliament for Tooting walks via East Street Market in Walworth on May Four, 2016 in London, England.

The capital, the place 60 p.c of individuals who voted within the referendum wanted to remain within the European Union, May Just to find its standing as a financial center threatened with the aid of the departure of the U.Ok. from the trading bloc.

Khan also known as for greater autonomy for the capital, which generates 1 / 4 of the U.Okay.’s complete nationwide tax take, however lags behind relating to spending per head of inhabitants.

One Of The Most vital facets of the negotiations over the U.Ok.’s exit is more likely to be whether banks operating within the us of a can continue to make use of “passporting”, which lets in them to trade with Ecu international locations while not having a branch there.

The London property market has already been suffering from the referendum, in keeping with the capital’s dominant property agent Foxtons, which suggested a 42 percent fall in profits for the first half of 2016 on Friday and warned that the remainder of the year would remain troublesome.

Khan pledged to build more reasonably priced housing in the capital, rather than what he referred to as the “gold bricks” of more expensive investment properties.



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