Trade agreement between EU and US can pump £2bn into London

A trade deal between America and Europe could pump up to £2bn into the capital, David Cameron said yesterday at the G8 summit.

“My message to Londoners is simple: our capital has got a huge amount to gain from today’s G8,” he told the London Evening Standard.

“The trade deal I’m launching with President Obama and EU leaders today could be worth £380 for every household in London, and up to £2bn to the London economy as a whole.”

“London has trade and commerce in its bloodstream. Few places understand better what it takes to succeed in the global race, and why an open, transparent and dynamic global economy — the heart of my G8 agenda — is vital to our national interest.”

The G8 themes that Cameron will discuss today include tax avoidance by big international companies and counter-terrorism.

“Fighting the scourge of tax evasion and aggressive tax avoidance [is] a priority,” he said.

Tax, trade and transparency aka “The Three Ts” are top priority for this year G8 summit in Northern Island.