London is currently deemed to be an international financial centre (IFC). Their role as an IFC is partly due to their rule of law, political stability, and high-quality education system, and partly due to the decisions of other countries that have made them less appealing to base businesses. Although not the sole reason for London’s IFC status, being a member of the European Union was a key advantage. Brexit will certainly impact London’s position.
Key learning objectives:
Explain London’s role as an IFC
Outline the features that have positively impacted London’s status as an IFC
Explain how Brexit will affect London’s position as an IFC