No-Deal Brexit: Short Positions Against the Pound

Part of the debate – in the House of Commons on 30th September 2019.

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Photo of Simon Clarke Simon Clarke The Exchequer Secretary

The pound would need a good head for heights in that scenario. My hon. Friend is absolutely right. The City of London is, of course, one of the great assets of this country and something we should celebrate rather than castigate. It is a source of enormous tax revenue, which underpins our vital public services, and there is no doubt that it is one of the key cards in our hand when it comes to the Brexit negotiations and securing a good deal. So I absolutely agree with him. We sometimes need to do more to talk it up, rather than talking it down.