Commenting on the news that post-Brexit London has lost its place as Europe’s largest share trading centre, Liberal Democrat candidate for Mayor of London Luisa Porritt said:

“It’s disgraceful that the Government is willingly undermining London’s position as a world-leading financial services hub.

“You’d think the fact that the Chancellor made a fortune working in finance would allow him to understand the importance of the sector to our economy, but clearly Sunak isn’t bothered about the million other people it creates jobs for – most of whom are in London.

“Boris Johnson and the Chancellor must stand up to the hecklers in their party and place as much importance on protecting our finance industry as they did our fishing industry.

“The Government must stop with its Anti-London agenda and realise our capital’s recovery is central to the UK’s recovery. Financial services alone provide up to 12% of tax revenue. We need that income to invest in revitalising our high streets, building homes and generating green jobs.

“At a minimum, securing agreements on equivalence and data adequacy for the sector must be made urgent priorities for the Government in the ongoing negotiations.”