Bank of England expects 75,000 finance job losses due to Brexit

Ryan Bembridge

October 31, 2017

An estimated 75,000 jobs in financial services will be lost after the UK’s departure from the European Union, the Bank of England has estimated.

That was according to the BBC’s economics editor Kamal Ahmed, who wrote that senior figures within the bank are using the number as a “reasonable scenario” if there is no specific deal between the UK and the EU.

The Bank expects 10,000 job losses on ‘day one’ of Brexit if there is no deal, as some trading jobs are expected to relocate to Paris and Frankfurt.

The BBC noted that the number of jobs lost could change depending on the financial trading relationship established.

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