One of the unspoken lines in government thinking in the bruising countdown to Brexit was that the City of London was ‘big enough to cope’. As the dust settles on the debate over the impact of Brexit on the City, it is worth remembering the words of the great political commentator Dr Seuss when he said: “you’re in pretty good shape for the shape you’re in.”

Four years on from leaving the EU and three years since leaving the single market, it’s a good time to take stock of the impact of Brexit on the City; to reflect on how the industry and policy has evolved; and to think about how the relationship between the UK and the EU in one of our most important sectors might evolve in future.  

There has been a lot more heat than light around the impact of Brexit on the City. On the positive side, the impact has turned out to be nothing like as severe as some of the most pessimistic forecasts of a Brexodus from the City and tumbleweed rolling through Canary Wharf. On a more sobering note, the impact has been much worse than the Singapore-on-Thames bedtime stories of the most ardent Brexiters. 

Click here to read the full paper.