Brexit LIVE: NO City exodus after bitter Remainer warnings – Sector still ‘numero uno’

EU and UK politicians need to ‘grow up’ says David Buik

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And David Buik has predicted even those financiers who have upped sticks “will be back”. Figures published yesterday by the European Banking Authority suggested just 95 bankers earning €1 million a year or more relocated before Brexit.

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Mr Buik, who has in the past worked for RP Martin, Kirkland Whitaker and London Deposit Agencies and who is a regular commentator on BBC, brushed off concerns voiced by management consultant Richard Barfield on social media, tweeting: “Be as negative as you like about BREXIT and the City – your privilege.

“You will NEVER persuade me that the City of London is anything but NUMERO UNO for financial services in Europe, including your beloved EU!”

Responding to a suggestion by another Twitter that “many brokers” were being forced to move to the continent, Mr Buik added: “Hope they have fun! – They will be back!”

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The EBA’s report said: “In 2019, the largest share of high earners of 3 519 (71 percent of the total number of high earners), was located in the United Kingdom (UK).

“Most of the Member States across the EU registered a slight increase in the number of high earners, particularly Germany, France, and Italy.”

The report added: “The increase of high earners resulted mostly from the impact of the relocation of staff from the UK to EU27 as part of Brexit preparations.

“In addition, for some institutions, the overall good financial results, particularly in corporate banking, and the ongoing restructuring and consolidations, which led to higher than usual severance payments, played an important role in the overall increase of high earners.”

8.12am update: Brexit carpark scaled back

Plans for a massive lorry park in Dover with capacity for 1,200 vehicles have been dramatically scaled back after objections from local residents.

Locals have been fighting against the proposals, which would have seen former farmland concreted over and significant noise and light pollution.

The development will now accommodate just 96 lorries, with 20 extra spaces for reversing vehicles.

In a letter to residents, Guston parish council said: “HMRC have confirmed that lighting will be a moonlight level.”

One member of the council told the Guardian: “We think this is a real result for us.

“Clearly we still have concerns about what will happen to the remaining three-quarters of the site and the design of the site, but overall we are pleasantly surprised and pleased they are engaging with us.”

7.56am update: Drivers will have ‘no leeway’ on speeding in the UK under new EU driving law

Drivers of company cars should have “no corporate leeway” on speeding when new EU limiter technology is installed in cars.

Peter Golding, managing director at FleetCheck said firms should be taking a “zero tolerance” approach to drivers who break limits.

The new rule means all vehicles sold in Europe from July 2022 will need to be fitted with an intelligent speed assistance (ISA) tool.

While an official decision has yet to be made, the UK is likely to adopt the new rule despite leaving the EU.

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