Leslie – MUFG’s decision shows leaving the Single market will have a terrible cost for UK financial services

Japan’s biggest bank, MUFG, is to open its European hub in Amsterdam rather than London to deal with the impact of Brexit, the Financial Times reports today.

Commenting, Chris Leslie MP, leading supporter of Open Britain, said:

“Brexiteers promised that leaving the Single Market would create jobs. They didn’t say that those jobs would be in Amsterdam rather than Britain. 

“MUFG’s decision shows that leaving the Single Market will have a terrible cost for our vital financial services industry, forcing big firms to invest on the Continent rather than in Britain.

“Only by staying in the Single Market can we create jobs and protect the UK’s place as the world’s financial capital.”

/ends

Notes to editors:

MUFG’s story is reported here: https://twitter.com/hendopolis/status/891738755777875968