LONDON: Britain's position as a top hub for maritime services is being eroded by competition, a loss of shipping finance business and the removal of tycoon-friendly tax breaks, a report said, deepening uncertainty for its financial sector as Brexit nears.
"We estimate that if the UK had maintained its market share over the last two years, this would have resulted in an additional US$700 million p.a. in GVA for the UK economy," said the report, published in partnership with the City of London Corporation.Advertisement The report's authors said their interviews with maritime services professionals"offered mixed views on the impact of Brexit on the UK’s perception as a politically stable country".
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