Brexit could cost London 9,000 banking jobs

The largest global banks plan to move about 9,000 jobs from Lon­don to con­ti­nental Europe over the next two years, according to statements that have been made since the Brexit vote. Among the companies considering the move are Standard Chartered, JPMorgan, and Goldman Sachs. While those 9,000 jobs represent just 2 percent of Lon­don's finance jobs, Britain's tax revenue would suffer from losing high-income taxpayers. Some analysts believe that loss of tax revenue could result in the rest of the population paying more in taxes.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up