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Business & Finance Series: Expert Comment

City of London jobs and tax revenue at risk from Brexit

Current plans for mutual market access impossible to achieve, says Sir Mark Boleat

by Amy Ripley (Senior Communications Officer)

Leading City figure Sir Mark Boleat said the City of London is at risk of losing 75,000 jobs and up to £10bn in annual tax revenue after the UK leaves the European Union in a speech at Cass Business School on Wednesday 20th June.

Sir Mark, who was the former Chairman of the City of London Corporation until last year, also said that the finance industry’s plans for mutual market access between the EU and UK after Brexit,  “had little chance of being achieved”.

Sir Mark’s comments were reported in the Guardian, City AM and by Reuters.

You can read the full speech Brexit and the financial services industry – the future of the City here. The speech draws on Sir Mark’s paper Brexit and the financial services industry – the story so far, published by the Centre for European Reform in March 2018.

About Sir Mark Boleat

Sir Mark Boleat holds a portfolio of public sector, commercial and voluntary positions. He is a Senior Partner of Albionrock, the Brexit consultancy, and Senior Associate Fellow at the Centre for European Reform.

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