London financial centre will grow if Britain stays in EU

Gateway to Europe: File photo showing boats on the River Thames as the City of London stands on the horizon. Conservative Mark Garnier says London is a gateway to the single market in Europe. – AFP

LONDON: London’s financial district will grow its economic output by more than a third and employ 10% more people over the next decade if threats including a possible British exit from the European Union don’t materialise, according to a study.

A report commissioned by the City of London Corp, which promotes London as a financial centre, said the city generated £45bil (US$69bil) in what it termed economic output in 2014, with that figure expected to grow by £16bil in the next 10 years.