Brexit could bring massive job losses to the City of London
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BoE Governor Mark Carney has previously been critical of Brexit’s potential effects on Britain’s financial market. However, Mr. Carney stated earlier this autumn that the central bank will do its best to adapt to the upcoming circumstances and minimise losses.
But not all believe that the job losses will be as extensive as 75,000. City News spoke to Nicola Tago from law firm Linklaters, who said that figures could be exaggerated. But Tago, like many others, emphasised that job losses “certainly will happen,” and added that the financial and IT sectors are particularly vulnerable.
The long-term impacts of Brexit remain unknown, depending on the outcome of Brexit talks between the Government and EU representatives.
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HeadlineBoE estimates up to 75,000 financial sector job losses post-Brexit
Short HeadlineBoE: Massive City job losses expected post-Brexit
Standfirst
BoE Governor Mark Carney has previously been critical of Brexit’s potential effects on Britain’s financial market. However, Mr. Carney stated earlier this autumn that the central bank will do its best to adapt to the upcoming circumstances and minimise losses.
But not all believe that the job losses will be as extensive as 75,000. City News spoke to Nicola Tago from law firm Linklaters, who said that figures could be exaggerated. But Tago, like many others, emphasised that job losses “certainly will happen,” and added that the financial and IT sectors are particularly vulnerable.
The long-term impacts of Brexit remain unknown, depending on the outcome of Brexit talks between the Government and EU representatives.
