City of London beware: the perils of leaving the single market

Exiting the Single European Market would involve a profound adjustment to the UK’s economic relations with the EU and the rest of the world. This will likely prompt major, long-term changes to the structure of the UK economy. What might be the result? Steve Coulter predicts the City of London will initially suffer most, despite our competitive advantage in services. Later, foreign direct investment will probably be hit.