The overwhelming majority of finance workers in the UK would vote for the country to stay in the EU despite 42% of them fearing that Brussels is ‘hostile’ to the financial sector.
A new survey has found 73% of participants they would either “definitely” or “probably” vote for Britain to remain in the EU.
Just 12% said they would “definitely” vote for the UK’s exit.
During the same survey, conducted by the Centre for the Study of Financial Innovation, very few (just 16%) said they thought Brussels was supportive of the UK’s financial industry. 42% said quite the opposite, namely that Brussels is “hostile” towards City interests while a further 42% felt Brussels is “neutral”.
Andrew Hilton, director of the CSFI, said: “The City is scared of the implications of an out vote and about its vulnerability if the UK chooses to go it alone.
“That said, support for the EU is based on resignation rather than enthusiasm. Yes, the City wants to remain in the EU, but it doesn’t like Brussels, it fears European regulation and it is worried about the political drift of the EU.”
The survey canvassed the opinions of more than 400 professional financial sector workers, including bankers, investment managers and economists.
Participants showed concern that EU regulation is too restrictive and that the UK’s competitiveness within the EU is eroding.
Nearly two-thirds said Britain’s MEPs don’t fight hard enough in support of the City.
