Commenting on the news that London will lose the European Medicines Agency to Amsterdam and the European Banking Authority to Paris, despite David Davis claiming in April the UK could keep them, Liberal Democrat Leader Vince Cable commented:

“While not surprising, these moves mark the beginning of the jobs Brexodus.

“Large private sector organisations are also considering moving to Europe and we can expect many to do so over the next few years.

“That Davis Davis suggested the UK could keep these agencies shows just how little grasp the government has of the potential consequences of Brexit.”