On Tuesday, during his two-day visit to the UK, Luxembourg's Minister of Finance, Pierre Gramegna, met with Britain's Minister of the Treasury, David Gauke, in London, to discuss the political and economic consequences of the result of the recent British referendum.

Minister Gramegna also met representatives of the "City of London Corporation" of which Mark Boleat, chairman of the Strategic Committee, and Jeremy Browne, Special Representative to the EU, to discuss the implications of Brexit for the London financial industry and the role that the Luxembourg financial centre can play in this context. The Finance Minister also had meetings with leaders in the banking sector and the fund industry.

Minister Gramegna commented "The meetings of the past two days have allowed us to measure the uncertainty on businesses in the UK. They raise many questions about their development strategy for the coming years. In this context, Luxembourg is seen as a haven of stability offering a reliable legal framework and pragmatic solutions. The constructive approach of the Luxembourg Government, which contrasts with the aggressive actions of some other financial centres, is greatly appreciated by British actors."

Photo by MinFin (L-R): Pierre Gramegna, Luxembourg's Minister for Finance; David Gauke, Minister of the Treasury