Finance News

London's financial centre status could be severely eroded, govt Brexit study warns

Rozi Jones
8th March 2018
Bank of England BoE flags EU UK Brexit

The government's Brexit committee has published a 29 page study on the impact of Brexit after it was leaked to the media.

The paper, titled 'EU Exit Analysis' says that under an FTA-type scenario, "London's status as a financial centre could be severely eroded" if the EU undertakes measures which are harmful to the UK financial sector and EU-facing businesses then relocate.

In addition, it says that in a strict migration scenario, an option in a WTO scenario, the sector's access to talent could be limited.