With six months to go until Brexit, just 630 finance jobs have moved out of the UK, according to a new Reuters survey.
That’s far lower than the number originally predicted to leave after the UK voted in 2016 to leave the EU. Despite bankers and politicians fearing a mass exodus, financial institutions now say they expect 5,800 or so jobs to shift from the UK if there’s a hard Brexit, down from the original 10,000.
Workers are seen crossing London Bridge during the morning rush hour in London, Britain, September 25, 2018. REUTERS/Toby Melville
LONDON (Reuters) – As few as 630 UK-based finance jobs have been shifted or created overseas with just six months to go before Brexit, a far lower total than banks said could move after Britain’s surprise vote to leave the European Union, according to a new Reuters survey.
Many bankers and politicians predicted after the June 2016 referendum that leaving the EU would prompt a mass exodus of jobs and business and deal a crippling blow to London’s position in global finance.
But as Brexit Day nears, the number of jobs that UK-based financial institutions say they expect to move in the event of a “hard” Brexit was around 5,800, just 500 more than the last survey in March, and with more firms responding. That compares to around 10,000 in the first survey in September 2017.
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