Bank of England predicts that Brexit will cost around 75,000 finance jobs
Oct 31, 2017 Finance 6538 By Sharon Ayomide
- Bank of England predicts that Brexit will cost around 75,000 finance jobs.
- The actual figure likely to vary.
- Details are based on a new report published by the BBC.
Britain's lender of last resort, the Bank of England has predicted that the nation's potential exit from the European Union otherwise known as Brexit is likely to lead to around 75,000 finance related jobs.
This was disclosed by a BBC report that was published on Tuesday.
"I understand that senior figures at the Bank are using the number as a ‘reasonable scenario', particularly if there is no specific UK-EU financial services deal," the BBC's economics editor Kamal Ahmed wrote, without providing a more specific source.
The BoE is currently assessing British-based financial services firms' contingency plans to minimize disruption after Brexit.