BoE warns Brexit could cost 75,000 financial jobs

Number could vary depending on deal

Tom Eckett
clock • 1 min read

The Bank of England has said losses of up to 75,000 financial services jobs could be a "reasonable scenario" following the UK's exit from the European Union, particularly if the result is a 'no-deal' Brexit.

According to the BBC, senior figures at the BoE said the number could change depending on what type of trading deal Prime Minister Theresa May is able to achieve post-Brexit. However, it still expects the UK to lose jobs to the continent. In April, the BoE ordered financial firms to draft Brexit contingency plans for the potential range of outcomes, including a hard Brexit. The letter said: "The main purpose of this letter is to ensure that all firms are making, and stand ready to execute in good time should the need arise, contingency plans for the full range of possible scenarios su...

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