CMC Markets CEO Peter Cruddas co-founds new Brexit Group for financial services employees: “The City For Britain”

“Should I stay or should I go?” sang The Clash in 1982, just a few years into the government led by Prime Minister Margaret Thatcher’s eurosceptic Conservative Party during its initial period of setting Britain’s economy back on the right track after several years of austerity, three day working weeks and extremely high taxation during the […]

Brexit

“Should I stay or should I go?” sang The Clash in 1982, just a few years into the government led by Prime Minister Margaret Thatcher’s eurosceptic Conservative Party during its initial period of setting Britain’s economy back on the right track after several years of austerity, three day working weeks and extremely high taxation during the dark days of the 1970s.

This month, The Clash’s famous words are once again relevant, as yet another political group will be formed today which will unite to join the plethora of anti-Brexit and pro-Brexit groups that now exist as the UK nears its referendum on its future membership of the European Union.

Unlike many other groups that have been founded thus far such as GO (Grassroots Out) or Vote Leave which focus on the social and political preferences of the electorate, the new pro-Brexit group will be called “The City For Britain” and is specifically aiming to be a group for employees in London’s financial services industry.

The founders of The City For Britain are very prominent financial industry figures and Conservative political giants, namely CMC Markets CEO and Founder Peter Cruddas, along with Helena Morrissey, mother of 9 and CEO of Newton Investment Management, a company with £51 billion in assets under management, and former Conservative Party Chancellor of the Exchequer Norman Lamont, who was incumbent during the leadership of Margaret Thatcher.

Mr. Cruddas, a prominent politician and former treasurer of the Conservative Party, has so far donated £1 million toward a campaign to vote for Britain to leave the EU, and tonight’s establishment of The City For Britain represents a further step in this direction.

With Europe’s economy constantly requiring bailouts, and Europe’s major cities not home to financial centers or modern, technologically advanced electronic trading environments to anywhere near the extent of London, it would most certainly become apparent that The City For Britain may gain a more than a degree of popularity, and with senior FX industry figure Mr. Cruddas at the helm, following its progress will be of great interest indeed.

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