Lord Hill of Oareford, has been confirmed as the United Kingdom’s next European Commissioner overseeing a major shake-up with plans to liberalise the EU’s capital markets and will be able to work safeguard the City of London from heavy handed Brussels regulation.
Responding to the appointment Richard Ashworth Conservative MEP for South East England said:
“A high ranking portfolio and one which is extremely important for the interests of the United Kingdom (and especially the city of London). It will enable the UK government, through him, to be highly instrumental in building a sound basis for the creation of jobs and economic growth in the EU.”
“Junker doing as he promised … protecting the interests of the United Kingdom. A good result for Britain and a good outcome for David Cameron.”
Lord Hill’s post, entitled “financial stability, financial services and capital markets union” commissioner, will be a significant economic post following tough talks with Commission President Jean-Claude Juncker.