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PwC: "100,000 financial services jobs at risk from Brexit"

April 15, 2016 2:26 PM

The International Business Times reported today that a PricewaterhouseCoopers study has estimated that as many as 100,000 financial service jobs could be lost by 2020 if the UK leaves the European Union. This would cause a £12bn loss to the British economy, which is 50% more than the £8.5bn the UK pays to belong to the EU. The impact would not be limited to the southeast: TheCityUK, an organisation that represents the industry, has stated that two thirds of the 2.1 million jobs in the sector are not in London. With financial services representing 12% of the gross domestic product, Brexit could deal a hammer blow to the economy.