Several weeks ago I warned that the proposed merger of the LSE with the German Frankfurt rival Deutsche Bourse would be disastrous for the City of London, especially since the success of the Brexit result.
It is now feared that Germany will insist the head office will be in Frankfurt.
Alex Brummer, author of Britain for Sale, sees the proposal as a disaster to the city’s dominance and its position as the world’s most important centre of finance.
Another good piece of news is the giant chemical industrial business, INEOS, is moving back to Britain. The owner Jim Ratcliffe is investing heavily in the UK and he may, after feasibility studies, resurrect the Land Rover Defender in the North of England. So much for the scandalmongering North East MPs who screamed time again that the NE would lose 160,000 jobs if the people of Sunderland voted Leave.
After the Brexit it is essential we be aware of the dangers of allowing vital parts of our financial structures to fall into the hands of overseas institutions and the Government should stop the takeover of the LSE.
Cou George Howe,