Gibraltar’s business proposition has been “turbo charged” by the Double Taxation Agreement with the United Kingdom and the publication of the Financial Services Act in the Queen’s Speech two weeks ago, according to the Chief Minister.

Mr Picardo made these comments during his address at the annual Gibraltar Day Financial Services lunch at the Guildhall in the City of London earlier today.

Over 300 business leaders attended the event which provides important networking opportunities.

Mr Picardo started off by arguing that Gibraltar was a “bastion of European political stability” adding that, in contrast to the political turmoil in Spain and the UK, “on the Rock, we are intent on the old tradition of elections just every four years delivering clear majorities in Parliament.”

The Chief Minister then went on to report the “constant and consistent economic growth” Gibraltar had experienced in the last eight years and before, a growth that would continue even in a worst case Brexit scenario.

Mr Picardo explained that, although he is still a remainer, Gibraltarians were “democrats…we accept the results of referenda as we do the results of General Elections.”

He added: “We stand ready to work with whoever is elected in London, whoever is elected in Madrid on Sunday and with the new teams taking up their posts in Brussels.”

Mr Picardo also highlighted Gibraltar’s guaranteed access to the UK market in services after Brexit and the recent conclusion of a Double Taxation Agreement between the UK and Gibraltar. He said these two developments and the tax treaty with Spain would be “a great catalyst to do more and greater business in Gibraltar.”

Mr Picardo ended by presenting Gibraltar as an attractive and competitive place to do business: “Because, let's be clear, ours is not a cheap and cheerful proposition. Ours is a value added proposition where what we bring to your business is an educated professional workforce in the private sector with a London work ethic in a Mediterranean environment. Gibraltar is where you business can flourish and grow. A rock of ages that has transformed itself into a modern, ambitious Digital Fortress for your business.”

“When you think business, think Gibraltar,” he concluded.

Gibraltar Day events continue this evening with a reception at the top of the Gherkin skyscraper.

There are some additional events later this week which concentrate on specific areas of Gibraltar’s economy and financial services. Tomorrow, the Government will host a Funds and Asset Managers’ breakfast in a club in Pall Mall. On Thursday there will be an Insurance breakfast and an event focusing on Distributed Ledger Technology.