City cuts estimate of pre-Brexit exodus in half

Banks and financial firms have halved the number of jobs they expect to move abroad before Britain leaves the European Union, according to an analysis by Reuters. The City institutions appear to have scaled back their relocation plans over the past six months as British and EU officials made progress in Brexit negotiations. Ministers have provided more clarity over Brexit in recent months, and executives said that they had cut the number of financial jobs they planned to relocate or create elsewhere to 5,000. The findings come six months after the same survey reported in September that 10,000 such roles would be moved by the time Britain left the EU. Click here for the full Times article (£)