Chancellor to discuss election and Brexit with Wall Street bank chiefs

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Chancellor Philip Hammond is set to meet with Wall Street banks in New York on Thursday, just days after Prime Minister Theresa May announced plans to hold a snap general election.

The Press Association understands that the Chancellor will hold separate meetings with Morgan Stanley chief executive James Gorman, and Goldman Sachs boss Lloyd Blankfein, and is expected to discuss the UK economy, Brexit and the upcoming election.

It will be one of the first major meetings with financial services since Theresa May announced plans for the vote earlier this week, and adds to a string of meetings between the Chancellor and US banks since the Brexit vote.

Mr Hammond last met with Goldman Sachs and Morgan Stanley near the end of March, when the Government officially triggered Article 50, sources told PA.

The talks are part of efforts by the Treasury to reassure big US banks over Britain's future trading relationship with the EU, including leaving the single market and losing passporting rights.