Steve Beasant

Liberal Democrat Prospective Parliamentary Candidate for Great Grimsby and Councillor for the East Marsh Learn more

Vince Cable: City job losses show no deal Brexit would be “foolish”

by Steve Beasant on 31 October, 2017

It has been reported that the Bank of England believes up to 75,000 financial services jobs could be lost as a result of Brexit, particularly in the event of a no deal in the sector. 

In response, Liberal Democrat leader Vince Cable said: 

“The analysis by the Bank of England shows what is at stake should the government be foolish enough to takes on a course that crashes us out of the European Union.

“The financial services sector is extremely important to the UK economy and for job creation. The sector is also a major source of government revenue at a time when finances are weak.

“It’s clear the so-called WTO alternative – a no deal – would be hopeless for our financial services industry. Crashing out of the European Union would be a foolish and damaging act that should not even be considered.”

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