Head of London Stock Exchange predicts five-year Brexit

AS the UK moves closer to the final triggering of Article 50, so different committees in Parliament continue to interview senior businessmen asking their opinion on the future and how the economy is likely to cope with Brexit.

In the latest round of enquiries, the Treasury Select Committee interviewed a number of influential financial figures, one of whom was Xavier Rolet the head of the London Stock Exchange.

In his statement, he warned that a two-year negotiation was likely to be far too short and that Britain faced a massive desertion of financial jobs from the City of London to other EU member states unless sensible and clear agreements could be made.

To this end therefore, he recommended that Mrs May should look for a five-year rather than two-year exit plan, especially as so many stock sales were made in euros.