EU agencies are on their way out

Sir, – While some in the UK Government believed it would still be possible for the UK to continue to host the EU agencies currently located in London postBrexit, the process to move these is now under way.

The European Medicines Agency and the European Banking Authority, both located in Canary Wharf and employing more than 1,000 people, will be looking for new homes after Brexit.

With the clock now ticking, the stage is set for a beauty parade, with some eastern European countries insisting they should be first in line for London’s lost prizes.

The agencies are not only seen as prestigious, but the regular flow of visitors is a reliable boost for hotels and businesses.

Every year about 36,000 scientists and regulators visit the medicines agency, which was set up in 1995 to monitor and supervise medicines across the EU.

At least 21 countries are thought to have made a bid for this agency, with a smaller number throwing their hat into the ring to host the banking authority, which started its financial supervision work in 2011 after the crash.

The deadline for making an application

“With the clock now ticking, the stage is set for a beauty parade, with some eastern European countries insisting they should be first in line for London’s lost prizes. The agencies are not only seen as prestigious, but the regular flow of visitors is a reliable boost for hotels and local businesses

to host an agency is the end of this month and a decision on location is expected in October.

While the Brexit department of David Davis naively claimed the agencies will be “subject to the exit negotiations”, the EU is unanimous on this point – it insists EU agencies must leave London, with the UK picking up the relocation bill.