Labour's shadow Business Secretary has said that HSBC's announcement it may move its headquarters outside of the United Kingdom, highlights the importance of EU membership for the country.
Chuka Umunna said:
HSBC's statement today serves to illustrate how irresponsible it is to play fast and loose with the UK's membership of the EU.
It would be a disaster for our financial services sector and business in general if the UK left the EU. Better to stay in and lead reform.
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