Keeping London open for business after Brexit

SIR – Brexit negotiations are often presented as a trade-off between access to European markets and restrictions to freedom of movement. For London, this is a false and damaging choice.

The capital accounts for around 50 per cent of UK service exports, and its success depends on European markets and workers. Losing access to talent from across the EU would not only drain London’s businesses and universities, but could also impair its character as an open and welcoming city.

The Government must commit itself to continued membership of the single market during a transition period, to enable businesses, universities and public bodies to plan with confidence for the future. The need is urgent, or the trickle of businesses moving overseas will grow into a flood.

Beyond the transition period, the Government needs to pursue a deal that gives – as far as possible – frictionless access to European talent for employers, as well as guaranteeing the rights of existing EU workers, and integrated trading of services across the continent. We believe that the easiest and best way of achieving this would be to remain in the European single market. However, if London cannot remain in the single market, it needs a comprehensive trade deal that allows continuing trade in services across the continent and a liberal migration policy framework.

The capital must also have the devolved powers to tackle its longterm challenges, and to make the city liveable and attractive for workers and investors alike. The prospect of Brexit makes further devolution of skills, childcare and property taxes not only necessary but urgent.

Lord Adonis (Lab)

Baroness Altmann (Con)

Sadiq Khan

Mayor of London and 28 others: see telegraph.co.uk