Posted on June 12, 2018 by staff

Mayor Khan: Tech will help London through Brexit


Mayor Sadiq Khan has said London’s tech sector will help it through the Brexit process.

The British capital has long been considered the leading destination for foreign investment thanks to its status as a financial powerhouse and burgeoning tech hub.

A report released by Ernst & Young on Monday showed that Paris had overtaken London as the most attractive city for investment while the 450 global investors it surveyed said Germany and France are now considered to be more attractive future prospects for investment.

However London’s tech sector has attracted three times more VC funding than its closest European competitor over the past two years.

“Berlin and Paris start from a low base, and frankly speaking can only go one way,” Khan told Reuters at the London Tech Week conference.

“London is different to the rest of the UK. Our underlying strengths – we’re the financial capital of the country, the cultural and political capital – that’s not going to change.”

Facebook, Amazon and Google have invested heavily in London teams in recent months.