Streeting – Government’s decision to leave Single Market will put City jobs at risk

10,000 jobs could leave the City of London on day one after Brexit, Sam Woods, the Deputy Governor of the Bank of England, has warned today.

Commenting, Wes Streeting MP, leading supporter of Open Britain, said: 

“It’s clear that British companies are already preparing to shift jobs abroad as a result of Brexit. Our economy is being damaged now, with growth slowing and prices rising, and the situation is set to get worse as a hard and destructive Brexit gets closer.  

“Only by keeping Britain in the Single Market can the Government reassure financial services firms and stem job losses. But they have made an ideological choice to wrench our country out of the world’s biggest trading area. 

“We were told that Brexit would not lead to job losses. As people see the harm that is being done to our economy, they have every right to keep on open mind on Britain’s future relationship with Europe.”

/ends

Notes to editors:

Mr Woods’ comments are reported here: https://www.theguardian.com/politics/2017/nov/01/city-jobs-brexit-bank-of-england-sam-woods