Loss of single market access could cause 70,000 City job losses

Facing new regulatory regimes

Up to 70,000 finance jobs could be lost in London if the UK loses access to the European single market, according to a new report by thinktank Centre for London.

The report 'Open City: London after Brexit' looks at the challenges Brexit poses for London's position as a global city. Focusing on the financial sector, the report said a lack of access to the single market would be a "significant blow" for London. "Our global city service sectors need urgent clarity on how access to the single market will be regulated. The risks to London's economy, from the loss of these workers and students, and access to the European single market, are considerable. 70,000 jobs could be lost in financial and related services alone." Paris seeks to lure London...