London leads business influence

Link: Last week’s Big Question

The influence of the European Union may be infiltrating into daily business life at an ever-increasing rate, but financial directors still feel it has less of an effect on strategic decisions than the US.

This week’s Accountancy Age/ Reed Accountancy Big Question asked financial directors which of London, Brussels and the US makes the most significant decisions affecting their businesses.

While a large majority still thought London held the biggest sway, the US beat Brussels into second place, with 19% of respondents claiming it was the most significant compared with 13% for Brussels.

‘London is important, Brussels has significant operational influence, but much of our business is outside the EU and, significantly, most of our activity is dollar dominated one way or another,’ said one FD.

London still managed to remain the most important influence for 68% of the financial directors questioned, although many felt this could wane in the coming years.

‘I still believe the history and integrity of London means it still has a place in the centre of the world’s financial markets,’ hoped one FD.

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