- Get link
- Other Apps
- Get link
- Other Apps
The mayor of London’s financial district has told Reuters the area has lost tens of thousands of jobs since 2016
The City of London, the historical financial district within the British capital, has lost around 40,000 jobs since the country left the European Union in 2016, the local mayor has told Reuters. Michael Mainelli described Brexit as a “disaster.”
British voters opted to leave the EU by a narrow margin of 52% to 48% back in 2016, and the divorce was finalized in January 2020.
In February, Bloomberg – citing economists from Goldman Sachs – estimated that the departure had cost the UK about 5% of real GDP compared to its economic peers. According to the article, Brexit’s legacy has been a slow economy and a soaring cost of living, due to reduced trade and the loss of business investment.
READ MORE: UK bankers hoping Trump regains White House – Politico
In an article on Wednesday, Reuters quoted Mainelli as saying: “We had 525,000 workers in 2016. My estimate is that we lost just short of 40,000.”
The mayor of the City of London – which is a geographically small part of Greater London but a leading global financial hub – added that rivals Dublin, Milan, Paris and Amsterdam have gained the most from the exodus of financial institutions from the UK.
from RT World News https://ift.tt/yRU3Bdl
latest world news
little people big world news
news world
us news and world report
world cup news
world news
world news today
world news tonight
- Get link
- Other Apps