July 24, 2025
News release
Labour is risking a UK financial crisis by refusing to re-join EU, Rejoin EU Party says
Statement from John Stevens, deputy leader of the Rejoin EU Party and former MEP and merchant banker, on the Chairman and Chief Executive of US investment banking giant Goldman Sachs's reported comments yesterday.
Stevens said: “David Solomon is quite right to identify Brexit as the predominant factor in the growing risk to the City of London’s status as the primary financial services centre in this time zone.
“The consequences of the current erosion of that status accelerating, as Goldman Sachs’ projections indicate, are dire for the UK economy as a whole, given financial services is our principal remaining globally competitive sector.
“But the more immediate danger lies in the damage already being inflicted upon UK government tax take – and this at a time of unprecedented fiscal strain and fragile international confidence in UK Gilts.
“When will the Labour government realise that a clear expression of an intention to re-join the EU is now the only way to head off a financial crisis which could prove fatal to its survival in office.”
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The Rejoin EU Party is campaigning to re-join the EU because we believe re-joining is the only way to solve the multiple problems Brexit has created. Brexit is broken and it’s breaking our country too. All the promises on which Brexit was sold to the electorate in 2016 were nonsense. Far from reducing red tape and providing £350m a week for the NHS, Brexit makes trading with the crucial European market more complex, difficult and expensive and threatens to reduce funding for public services. If you agree Brexit is making our country poorer, less tolerant and less united, join us and send a message to Westminster that you want your EU membership back, with all its freedoms and benefits.