Deputy governor Sam Woods says City firms will start to move jobs and business out of the UK without agreementA top official at the Bank of England has warned the government it has less than 12 weeks to agree a transition deal with the EU to prevent City firms starting to move jobs and business out of the UK.
Sam Woods,a deputy governor at the Bank, said City firms would activate their Brexit contingency plans whether there was no deal on a transition period by Christmas which would mitigate the impact of a tough Brexit in March 2019. Woods also repeated his warning of the strain being put on the Bank’s ability to police the financial sector as a result of the changes firms needed to beget.
Continue reading...
Source: guardian.co.uk