London has most to lose at G20 summit - ABI

Director general, Stephen Haddrill, says the city has the most to lose if any over onerous regulatory framework is agreed during Thursday's G20 Summit meeting. "With the financial services sector contributing 8% of the UK's GDP, a bad outcome would be a loss felt in London and in towns and cities across the country," he says. "If the G20 flirts with protectionism, second-rate competitors will be given an edge they do not deserve at the consumers' expense and the UK will be the clear loser." Whilst the ABI accepts the need for some reform of regulatory structures, Haddrill says those ...