GETTYTheresa May has been urged to put London at the top of her Brexit agenda
Senior city sources say there are increased concerns that a weakened Prime Minister will shy away from putting London’s financial services - deemed the backbone of the economy - at the top of her agenda as the UK heads to the negotiation table with Brussels.
Instead, there are fears the Government will prioritise sectors such as fisheries or car-making.
While the public regard these industries as more important than banking and finance, they essentially employ fewer people and generate much less in tax.Related articles
Senior figures within the City have urged the Prime Minister to urgently rethink her strategy, claiming that Britain is fast running out of time.
These sources claim the longer it takes for the Government to strike a deal ensuring the City gets continued access to clients and markets in the European Union, the more likely it is that banks, insurers and asset management firms will have to move significant numbers of jobs to the continent.
Most of these roles with the financial industry are highly paid, and their departure will inevitably result in reduced tax for the Treasury to spend.