Skip to content
Thursday 20 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,748.16
+0.04%
DAX
26,011.55
-0.31%
CAC 40
8,453.09
-0.57%
STOXX 50
6,432.65
-0.18%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Monday 19 May 2014 12:17 am

Morning Wire joins Chuka Umunna: a Brexit would be catastrophic for London firms

By: Express KCS

Add as a preferred source on Google

WALKING around Labour-stronghold Burnt Oak with shadow business secretary Chuka Umunna feels a bit like knowing a minor celebrity. Some people clasp his hand and snap selfies, others brush past uninterested.

“I don’t want to be the shadow secretary, I want to be the real thing!” Umunna tells one couple who run a curtain shop on the high street. Then he would be able to do something about the high business rates that threaten to close their shop, he says.

The couple, historic Labour supporters, demand to know what exactly Umunna would do and seem reasonably satisfied after a five minute chat. “It’s good that you come and ask what the problems are so you know how to solve them,” the owner says.

Umunna is clear that while the EU elections are important, the locals matter far more to Labour. “Traditionally the EU elections have been used to make a point and protest vote, which is a shame,” he says, adding that the biggest danger for the City is withdrawal from the EU. “Under Ed’s leadership we’ve got to a point where it’s a real prospect that we could be in government this time next year. The local elections are a good measure of how likely that is.”

THE LIB DEM GAMBLE
Liberal Democrat leader Nick Clegg has always acknowledged that taking a strong position on Europe is a political gamble. The party backs a close relationship with the EU in a climate of increasing dissatisfaction from voters, largely focused on immigration. Yesterday Clegg said Nigel Farage’s mask is beginning to slip, telling the BBC’s Andrew Marr: “Behind the beer-swilling bonhomie is a really nasty view of the world”. But the fact that most commentators believe Farage won the live TV debate against Clegg over Europe in April must surely sting. “I like to think that because I decided to take Nigel Farage on … that’s one of the reasons he’s being subject to more scrutiny. That’s why you’re seeing the mask slip and it’s revealing an extremely nasty view of modern Britain,” Clegg said yesterday. The Lib Dems are expected to lose a number of seats in the elections, with polls consistently awarding the party around six or seven per cent of the vote. The most recent poll put Clegg’s party in a tight race with the Greens for fourth place.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Related Topics

  • Brexit
  • Chuka Umunna
  • People

Trending Articles

  • Jobless Banquet: Youth unemployment surge ‘sends Neets to KFC’

  • City law firm sues prominent Emirati business family

  • Amanda Blanc has worked her magic at Aviva

  • As it happened: Miners fuel FTSE 100 recovery; oil jumps as Trump claims Strait of Hormuz

  • House prices in wealthy London boroughs fall by up to £300,000

More from Morning Wire

  • Top Tory slams ‘ivory tower’ financial regulators as takeover bids blight London Stock Exchange

    Markets
    Shadow business secretary Andrew Griffith has said he would make it easier for small businesses to open bank accounts. (Photo by Dan Kitwood/Getty Images)
  • Should Burnham dash for an early election?

    Opinion
    Andy Burnham, wearing a dark suit and glasses, speaks outdoors with trees in the background.
  • Burnham premiership begins with decline in job postings

    Economics
    Andy Burnham, Mayor of Greater Manchester, in a professional setting.
  • ‘Ever-widening gap’: Wetherspoon boss Tim Martin urges Burnham to cut more pub taxes

    Hospitality
    Founder and Chairman of JD Wetherspoon, Tim Martin
  • Burnham scraps digital ID scheme

    Politics
    Andy Burnham speaking at a public event, emphasizing local governance and policy changes, wearing a suit and gesturing pas...
  • Mahmood called for banker bonus tax to fix youth unemployment 

    Banking
    Shabana Mahmood wearing a stylish black jacket, embodying professional elegance in a business setting
  • Reeves: Burnham will face ‘shocks and challenges’ as Prime Minister

    Politics
    Rachel Reeves delivering a speech at a press event, wearing a navy blazer and standing in front of a backdrop with logos.
  • ‘Pro-business’ Burnham eyes Reynolds return to top business job

    Business
    Jonathan Reynolds addressing the SMMT's annual International Automotive Summit (image courtesy of SMMT)
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook