Mayor Boris backs UKIP position on City

London Mayor Boris Johnson has joined in UKIP's attack on EU interference in the City with a strong attack the acceptance of Brussels directives.

Speaking at the Confederation of British Industry’s annual summer lunch this week, Johnson said: “It is crazy that we are so passively and supinely accepting EU directives on hedge funds, capital adequacy and other issues.

"We should be far more robust in defending the City of London. We are crazy to go around attacking our financial services industry and should hope for its speedy recovery.”

They Mayor's attack echoes warnings fromUKIP Leader Nigel Farage, hedge fund managers and private equity bosses earlier this year.

Mr Farage said: "Finally, Boris has woken up and decided to join the UKIP call for something to be done about the EU insistence on regulating everything.

"Regulating the private equity firms and hedge funds operating out of the City of London would do nothing but drive these abroad. This is not good for the financial services industry in Britain, nor is it good for the economy as a whole.

"But this Labour Government, is, as the Mayor said, passively accepting EU directives without any opposition. We must fight them now!"