Rising costs force firms to consider London exit

A combination of uncertainty over Brexit negotiations, rising rental prices and high business rates are driving hundreds of businesses out of London, a business lobby group has warned.

The London Chamber of Commerce and Industry said that over the past year one in five businesses in the capital had moved or were thinking of relocating in London or quitting the city.

“What we have is a still unfolding picture of how businesses are reacting to cost pressures and uncertainties,” Colin Stanbridge, chief executive of the organisation, said. “Unless businesses see serious progress in trade talks, it is not unlikely that we could see this figure translate into even bigger losses.”

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