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Companies in India and China ‘more likely’ to trade in Croydon after Brexit

Companies in India and China ‘more likely’ to trade in Croydon after Brexit
Jun 24, 2016 Shaking Hands 0 comments
This post was first published on The Croydon Advertiser on 24/06/2016

Companies in India and China ‘more likely’ to trade in Croydon after Brexit

Croydon’s most high profile Leave campaigner says Brexit could open up new trade opportunities for the borough’s businesses.

Steve O’Connell, a Conservative councillor and London Assembly member, dismissed council leader Tony Newman’s fears that leaving the European Union could discourage investment in the town.

“I don’t think it makes a blind bit of difference,” he said.

“I think it’s palpably wrong and I disagree with that completely. The country as a whole will be able to trade in a more unfettered way with emerging countries.

“Companies in India and China will be more likely to trade in Croydon than they were before.”

Mr O’Connell, elected for a third successive term as Assembly Member for Croydon and Sutton in May, said the result of the referendum was a “wake up call” for mainstream political parties.

He said: “I’ve been banging on for quite some time about the established parties losing touch with voters. Labour heartlands voted in substantial numbers to leave.”

Tthe Remain campaign failed despite backing from a Conservative Prime Minister, Mr O’Connell said: “I agree. I think the political order has lost touch with the ordinary guy and girl in the street. I think this is a wake-up call which political parties need to take note of.”

The result of the referendum prompted the pound to fall to its lowest level against the dollar since 1985. Mr O’Connell said he expected there would be “some activity early on” but said the markets would recover.

“We said that Leave would be the right thing for the future prosperity of the country and I think people believed that,” he said.

Brexit would eventually ease pressure on Croydon’s overstretched public services, such as schools and the town’s hospital, due to the end of free movement from the EU, he added.

“That was one of the fundamental reasons I was campaigning for leave.

“Frankly public services in Croydon, and the rest of the country, are close to falling over

“You only have to go to your doctor’s surgery, A&E or try and get a school place for your kids to see that. People know there’s a problem.

“I think in the long term there will be an ease in our public services which I think is massively important to the man and woman in the street.

“It’s one of the main reasons for the Leave vote.”