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  World   Europe  20 Jan 2017  May vows ‘open’ Britain as Brexit shock hits banks

May vows ‘open’ Britain as Brexit shock hits banks

AFP
Published : Jan 20, 2017, 2:34 am IST
Updated : Jan 20, 2017, 6:32 am IST

Brexit was widely interpreted as a rebellion against globalisation with voters citing immigration.

British PM Theresa May
 British PM Theresa May

Davos: Prime Minister Theresa May on Thursday told the world’s elite that Britain would be open for business despite Brexit, but EU leaders warned of challenges ahead and banks said they would have to shift jobs.

Ms May sought to reassure guests at the World Economic Forum in Davos that Brexit did not signal a retreat into protectionism, as a slew of banks revealed plans to relocate staff following her announcement on Tuesday that Britain would leave the single market.

“The United Kingdom — a country that has so often been at the forefront of economic and social change - will step up to a new leadership role as the strongest and most forceful advocate for business, free markets and free trade anywhere in the world,” the Prime Minister told a packed hall.

Britain will “seek the freedom to strike new trade deals with old friends and new allies right around the world,” she added, revealing her government had already started discussions on possible deals with Australia, New Zealand and India.

Brexit was widely interpreted as a rebellion against globalisation with voters citing immigration and jobs lost to low-wage economies as the major factor behind the exit.

Tags: theresa may, brexit, world economic forum