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Brexiters guilty of ‘wanton irresponsibility’

The MP for the cities of London and Westminster has warned that people in favour of leaving the EU are taking the UK down an irresponsible path.

At an EU referendum debate hosted by Moore Stephens on 8 June, Mark Field told attendees: "Those peddling this disingenuous line that the EU will just roll over if we leave and make life easy for a nation that unilaterally departs from the organisation are, I think, guilty of wishful thinking to the point of wanton irresponsibility.

"Forget about getting a deal within two years as envisaged by the Lisbon treaty. It will take far longer and that uncertainty would be incredibly damaging to the UK's business interests."

However, MP for Spelthorne Kwasi Kwarteng countered this, saying that the 23 June vote was a once in a generation opportunity that should be taken.

"The City of London has centuries of innovation and financial ingenuity and this notion that if we were to leave the EU London would collapse is entirely specious and short-sighted," he added.

In a poll carried out during the discussion 61 percent of more than 140 attendees said they had experienced a "loss of faith" in the EU.

In spite of this, 62 percent of respondents said a total divorce of the UK from the EU would be too drastic a solution, while 68 percent believed leaving the EU would damage the London insurance market.

Meanwhile, regulation continued to be something of a sore point. Some 71 percent of attendees believed that too much of the regulation that remains out of their control stems from the EU.

The latest poll follows a previous survey by Moore Stephens, which revealed that 40 percent of industry professionals disagreed with their employer's corporate stance on Brexit.

Paul Latarche, head of the insurance sector group at Moore Stephens, commented: "The looming EU referendum has generated heated debate across the UK and in the insurance industry, which was aptly reflected throughout our Brexit seminar."

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