'Hard Brexit' could cost UK finance firms 38 billion pounds – report

'Hard Brexit' could cost UK finance firms 38 billion pounds – report
 

The British financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called 'hard Brexit' that would leave it with restricted access to the EU single market, according to a report on Tuesday commissioned by a financial industry group.
If finance firms lose the right to freely sell their services across Europe, 75,000 jobs may disappear, according to the report by consultancy firm Oliver Wyman.
There is growing speculation that the sector, which includes retail banks, asset managers, insurers and investment banks, will lose rights as the British government... read more

 
4 October 2016 in Business, Views: 44
Source: Reuters
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