The smaller financial centers in the UK – which all together have far more employees than London – are fearing jobs losses after Brexit.
The financial sector fears that the exit from the EU will have “enormous impact” and will cause many jobs to disappear.
Along with numerous other service industries, it employs 2.2 million Britons – seven percent of the workforce – and is dependent on access to the EU internal market. For example, if the banks lose the ability to operate across borders, they will have problems.
– If this opportunity disappears it could have a major impact, since financial services are such a large sector in the country.
Of course we are a bit nervous about the outcome of the negotiations, says Fraser Morris in the private bank Brown Shipley in Manchester. He believes the Brexit process will take “a few years”.
Source: NTB scanpix / Norway Today