The Bank of England expects Britain to lose up to 75,000 financial services jobs in the years after the country leaves the European Union in 2019, the BBC reported on Tuesday.
“I understand that senior figures at the Bank are using the number as a ‘reasonable scenario’, particularly if there is no specific UK-EU financial services deal,” the BBC’s economics editor Kamal Ahmed wrote.
The BoE declined to comment on the BBC report. BoE Deputy Governor Sam Woods told Reuters at the start of the month that a figure of 10,000 job losses in a Reuters survey of banks’ plans was a reasonable estimate of the initial impact of leaving the EU.
The longer-term impact of Brexit on jobs in financial services was much less certain, and depends on what deal Britain struck was able to reach with the EU, Woods said.