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Hard Brexit Could Cost British Finance £38bn

The reality is no one knows - what the outcome of negotiations will be, what the true cost will be, how many jobs will be affected. But I'm sure there will be a cost and that jobs will disappear. And that London will be diminished.

Britain's financial industry could lose up to 38 billion pounds in revenue in a so-called 'hard Brexit' that would leave it with restricted access to the European Union's single market, according to a report commissioned by an industry group.If finance firms lose the right to freely sell their services across Europe, 75,000 jobs may disappear and the government may lose up to 10 billion pounds in tax revenue, the report by consultancy firm Oliver Wyman said.

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asset & wealth management

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