Home Employment Brexit information: Keep within the dread of shedding 80,000 jobs savaged by Brexit metropolis increase | Politics | Messages

Brexit information: Keep within the dread of shedding 80,000 jobs savaged by Brexit metropolis increase | Politics | Messages

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Brexit information: Keep within the dread of shedding 80,000 jobs savaged by Brexit metropolis increase |  Politics |  Messages

In 2016, as Britons voted within the historic referendum, a report by the Boston Consulting Group warned {that a} whopping 80,000 – 20 % of the overall – could possibly be displaced from the Sq. Mile because of Brexit. The affect could be far worse than that of the 2007-2010 monetary disaster, when round 55,000 jobs had been misplaced.

In a pointy warning to the town, the group even suggested German cities to “put together for job relocations in varied sectors and to actively use the alternatives that this inflow of certified staff affords”.

However the anti-Brexit scare-mongering hasn’t paid off, with nicely below 10 per cent of projected jobs truly being misplaced almost six years after the vote.

And officers suspect this has been offset by good points in trade within the metropolis.

Metropolis of London Mayor Vincent Keaveny advised an viewers in Dublin the world had fared much better post-Brexit than many had predicted.

Quoted within the Irish Instances, he mentioned: “A sure variety of jobs have moved out of London.

“We expect it is a very small quantity, on the order of seven,500.”

He added: “We have additionally seen tens of 1000’s of jobs being created on the fintech facet of the town.

“Because of this, any job losses or job relocations on the Brexit facet have turn out to be comparatively insignificant within the general image.”

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This follows a report late final 12 months exhibiting that the majority excessive web price people (HNWIs) within the UK consider London will stay the monetary capital of Europe for the last decade forward.

A formidable 68 % mentioned London will proceed to guide different European cities within the subsequent 10 years.

For HNWIs dwelling in London, the quantity rose to 75 %.

Given the minimal affect on the Metropolis of Brexit, that is prone to stay so past the last decade.

Of the 1,000 respondents, 80 % additionally mentioned they had been assured about the way forward for the nation’s financial system.

33 % mentioned they felt “very protected”.