Bad Brexit Planning ‘Could Cost Financial Services Billions’

As the UK’s financial services sector strains to read the tea leaves of the government’s Brexit strategy, recent studies have revealed just how significant a blow the departure from the union could be.

A paper commissioned by the Greater London Authority (GLA) and carried out by Cambridge Econometrics, which was published on Wednesday, estimated the range of potential fallouts from various policy and negotiating positions.

At the paper’s launch, London mayor Sadiq Khan criticised the UK’s Conservative government for failing to publish full impact assessments examining Brexit’s impact on a sector-by-sector basis.

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