You are here: Home » International » News » Economy
Business Standard

Brexit to cost UK 10,000 finance jobs on day-1, 75,000 in all: BoE governor

The 65,000 to 75,000 estimate was drawn up by consultants Oliver Wyman

Reuters  |  London 

Job losses totalling 75,000 in banking and insurance because of Brexit are "plausible", Bank of England Deputy Governor Sam Woods said on Wednesday. Woods told British lawmakers that the 65,000 to 75,000 estimate was drawn up by consultants Oliver Wyman and not the Bank of England, but that it was within a "plausible range of scenarios". Woods also told a House of Lords committee that it was reasonable to expect that the UK financial sector will have lost about 10,000 jobs on "day one" of Brexit when Britain leaves the European Union in March ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, November 01 2017. 17:58 IST
RECOMMENDED FOR YOU