boe warns brexit could cost 75000 financial jobs
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

BoE warns Brexit could cost 75,000 financial jobs

Arab Today, arab today

Arab Today, arab today BoE warns Brexit could cost 75,000 financial jobs

The Bank of England
London - MENA

The Bank of England (BoE) said Tuesday that 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.

The BoE ordered financial firms to draft Brexit contingency plans for the potential range of outcomes, including a hard Brexit, in which the UK may lose free trade with the EU member states, the BBC reported. 

Around three million jobs are linked to trade with the EU.

Before Brexit, number of new jobs were estimated to rise to reach about 790,000 in 2030.

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