Brexit could risk 232,000 jobs, says LSE chief
The head of the London Stock Exchange said that Brexit could risk up to 232,000 jobs.
Chief executive Xavier Rolet said the impact of Britain leaving the EU could lead to 232,000 job cuts and risk financial stability of the country.
The financial services industry have been concerned about passporting rights which allows firms conduct business across the EU through a single license and have called for a ‘soft’ Brexit- maintaining membership, or having as much access as possible to the single market.
This was echoed by HSBC chairman Douglas Flint, and Allianz’s vice-chair Elizabeth Corley, who all spoke at the Treasury Select Committee.
Corley said there should be a “grandfathered" transition plan for the country in negotiations with the EU, in order for banks to plan for the future.