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CBI highlights threat to City
A "tidal wave" of regulation from London and Brussels is threatening the UK's leading position in the financial services industry, according to the CBI.
Publishing a report on the sector, the business organisation urged a halt to further red tape.
And it warned that Brussels complacency could endanger the global status of the City.
"The UK financial services industry is one of the best in the world. It's a major contributor to UK employment, output and balance of payments, but that is at risk," said CBI deputy director general, John Cridland.
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