The Bank of England expects that Britain will lose up to 75,000 financial services jobs. The predictions come out during the BoE assessment of British-based financial services firms’ contingency plans in order to minimize disruption after Brexit in 2019.
Kamal Ahmed, the BBC’s economics editor, is asking form the senior figures of the Bank to specify the numbers of this prediction with UK-EU financial services deal in order to understand the ‘reasonable scenario’ of the bank.
Ahmed wrote, “The BoE thought the figure could vary depending on the terms on which Britain left the EU, and that 75,000 was at the upper end of projections provided by other groups.”
Let see what Jon Cunliffe and Sam Woods, BoE deputy governors who cover financial services, will say to the English parliament committee about Brexit on Wednesday.
The big question is still, will Britain miss the expected March 2019 deadline of leaving the EU, as Theresa May hinted last year in the House of Commons?