UK takes step towards Brexit with Repeal bill

London has the largest share of banking and is well ahead of other countries in key markets

Britain published legislation Thursday to sever political, financial and legal ties with the European Union, an important step towards Brexit but one which the opposition said it would challenge.

The Repeal Bill is central to the government's plan to exit the EU in 2019, disentangling Britain from more than 40 years of EU lawmaking and repealing the treaty that first made Britain a member in 1972. Its passage through parliament could make or break May's future as prime minister. The election she called last month cost her an outright parliamentary majority and reopened the debate on the nature of Britain's