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Join me now on BBC Two.
That's Newsnight with Emily.
Good evening and welcome to BBC
London News with me,
The City of London contributes tens
of billions of pounds each
year to the Treasury,
but there'll be "no place"
for our financial sector
in any Brexit trade deal.
That's the message from the EU's
chief negotiator, Michel Barnier.
The Government wants
to secure new financial
trading terms with Europe,
but what happens if a deal
cannot be reached?
Chris Rogers has been to find out.
London is the world's number one
global financial dealer.
More than half a million
people are employed
in the financial sector.
The long-held fears that special
trading privileges and access to EU
customers will be taken from London
post-Brexit were confirmed again
by the EU's chief Brexit
negotiator, Michel Barnier.
He told the Guardian
newspaper the City can't be
an exception to the rule.
He said the outcome
was the consequence of the red
lines that the British
have chosen themselves.
In leaving the single
market they will lose
the so-called financial services
passport, he warned.
We can be forgiven for not knowing
exactly what goes on in the City
but it has a massive impact on every
single one of us.
The British economy relies
heavily on it and there
is an ecosystem here.
There are lots of industries feeding
off the financial sector.
Even within it you have technology,
human resources, and then
surrounding the financial sector
you have the coffee shop owners,
the tailors, the watchmakers,
the shoe shiners, the pharmacists,
the restaurants, the cafes.
They all rely on the
success of the City.
So what about the financial firms
caught up in the middle of the war
of words between Barnier
and the government?
This man is pro-Brexit.
These sides are both posturing
right now, us included,
but we have got to remember,
I know it feels like we've been
having Brexit forever
but we are still in the foothills
of the negotiating process.
We're not going to have
an agreed deal until 2019.
These things are almost
always reached in the 59th
minute of the 11th hour.
He can say right now, no, no, no.
In the end I'm pretty sure
the answer will be yes.
While some firms are
holding their nerve,
others are making contingency
plans to quit.
But the think tank Open Europe said
the EU has no choice.
The fact that the UK has a big
surplus in those financial services
is because we have lots of customers
elsewhere in the EU and I think most
of the EU recognises that that hub
cannot be replicated elsewhere
in the EU, either in Frankfurt,
Luxembourg, Amsterdam, wherever.
So many people in the EU
will want to access those services
in London or the rest of the UK.
But there is little sign
of seasonal goodwill.
City UK, which lobbies
for financial firms,
today called Michel Barnier Scrooge.
And in its first proper
Brexit Cabinet meeting,
the government has agreed to demand
a bespoke deal from the EU.
Chris Rogers, BBC London News.
Earlier I spoke to the BBC's
Adam Flemming in Brussels,
and asked him how significant
this announcement is.
These comments are significant
because Michel Barnier
is the EU's chief negotiator,
the man entrusted by EU leaders
to deliver the final Brexit deal
between the UK and the EU.
But they are not surprising
because Michel Barnier
is following instructions given
to him by the EU leaders.
They have been clear throughout
the Brexit process that the deal
the UK gets in the end is contingent
on how willing the UK is to stick
to the EU's rules and the EU's
way of doing things.
Michel Barnier has said in several
places for several days
now that the fact the UK is sticking
to its red lines of no membership
of the single market,
no membership of the Customs Union
and no jurisdiction
of the European Court of Justice,
means that the best the EU
is willing to offer is a trade
deal along the lines
of the one that Canada got,
which does not include financial
services, so crucial to the London
economy as we all know.
What is happening here
is that the EU is waiting for the UK
government to discuss amongst itself
about how it wants that
relationship to operate.
And only then, at the next summit
of EU leaders in March,
will the EU make its offer more
clear and more detailed.
So expect this issue to rumble
on for a few months yet.
As we've been hearing,
the ex-boyfriend of reality TV star
Ferne McCann has been jailed for 20
years after carrying out a brutal
acid attack in a packed
East London nightclub.
16 people were seriously injured,
most with chemical burns,
when Arthur Collins hurled
the liquid over a crowd on the dance
floor of the Mangle club in Dalston.
Three people were
Well, since the 25-year-old
carried out his attack,
there have been growing calls
for nightclubs to tighten
up their security measures.
Some venues in the capital have
already taken steps to prevent acid
being brought into their premises,
as the number of incidents involving
a corrosive substance
continues to rise in London.
Caroline Davies is here with more.
Caroline, I understand that judge
talked about this increase?
He did. We can take a look at the
scale of this issue. The judge said
that in 2016 there were nearly 400
corrosive attacks but this year we
had already passed the total of the
previous year by the time we reached
October, 424 from January until
October which is obviously a rise
but I should stress that these
attacks are relatively rare even
though they are taken seriously.
have nightclubs reacted?
clearly want their customers to be
safe and they are a safe place to be
and we spoke to one club who said
they had taken police advice about
what to do. They do not allow liquid
into the club so your bottle of
water would have to be thrown away
before coming in but they are
testing for personal use and
colognes and antibacterial gel is so
if you have those in your bag you
will be asked to test them on this
patch of your skin to prove they are
safe so they are taking this
seriously. We also spoke to people
who have great experience on
survivors and one charity we spoke
to said they hope the law gets
The Home Secretary made a series
of announcements over the last
three or four months.
I'm certainly expecting and hoping
that legislation around control
of sale of acid and also legislation
around young men particularly
caught with acid.
What is actually being done? The
Home Secretary launched a
consultation which included acid in
October. That is closed and they are
looking at results so I would not be
surprised if we hear more about acid
and the law surrounding it in the
Thank you very much.
An investigation is underway
in West London after two young boys
were found unconscious
at an address in Perivale.
Police were called to a property
on Bilton Road this afternoon.
They found a six-year-old
in a critical condition.
He, along with a four-year-old,
were taken to hospital.
No arrests have been made.
The much awaited Crossrail
is in its final stages and will open
to the public in 12 months' time.
Today we got some indication
of how much it will cost
to use the Elizabeth Line.
Meanwhile there are positive noises
about London's next big
More from our Transport
Correspondent, Tom Edwards.
These huge platforms
are at Farringdon Crossrail station.
In a year, trains will be
running through here.
Today news that in central London
fares on the Elizabeth Line will be
the same as the Tube.
In terms of where it
covers normal TfL zones,
it will be the same fare structure.
We recognise this will take
some business from other
lines, of course it will.
But we also know that people perhaps
who haven't used Central Line
or Jubilee Line in the last few
years because they perceive them
to be very busy will come back
to using the underground.
That is about supporting
London's continued growth.
The Elizabeth Line will initially
start in three sections.
And already there are plans
for the next big infrastructure
project, Crossrail 2.
The cost is £30 billion.
The government wants TfL to raise
half of that up front,
through business rates,
councils and developers.
City Hall admits the funding
is a big challenge.
We are absolutely confident
from the figures we have already
submitted that London can fund half
of the capital programme
that we would need for Crossrail 2.
It's not easy but we can do it.
The payback, both in terms
of what comes to Transport
for London and the Treasury,
but to London's businesses and
Londoners themselves, is fantastic.
Crossrail 2 will run from south-west
London and Surrey through
the capital to Hertfordshire.
Today the government
Do you think it will happen?
Yes, I believe it will.
They are specific challenges
across the network in
London that still remain.
Crossrail 2 has the ability
to solve a number of them.
We need to ensure that Crossrail 2
tackles the challenges that most
need to be tackled here in London.
As this huge engineering project
enters its final stages,
to match London's growth,
the capital is already looking
at new infrastructure.
The challenge, as it was initially
on Crossrail, is funding.
Tom Edwards, BBC London News.
That's it for now from me, but let's
find out what the weather's up
to with Elizabeth Rizzini.
We had a very pretty, fiery sunset
today which you might have seen and
we started this morning with some
fog and frost. No such problems
tonight, it will be very mild and we
might have a bit of hill fog but 20
of cloud into tomorrow morning. --
plenty of cloud. It should stay mild
for the rest of the week, dry with
some drizzle, possibly some rain on
Wednesday night and Thursday morning
and plenty of cloud and it will feel
quite grotty and great for much of
the week. Overnight tonight, the
milder air comes in from the West so
weak start tomorrow with rising
temperatures, between six and eight
Celsius, a big difference from this
morning and tomorrow, you will not
see the colours changing that much
because it will stay grey and cloudy
for much of the date but it will be
mild with temperatures up to ten or
11 Celsius. It will stay that way
for the rest of the week, mostly dry