Financial Services

HM Treasury written question – answered on 4th July 2017.

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Photo of Vincent Cable Vincent Cable Liberal Democrat, Twickenham

To ask Mr Chancellor of the Exchequer, what the effect has been on (a) employment and (b) UK public finances of financial sector companies moving abroad since the vote to leave the EU.

Photo of Stephen Barclay Stephen Barclay The Economic Secretary to the Treasury

The Office of National Statistics (ONS) publishes regular updates on employment figures, including by sector. In terms of the economy as a whole, the ONS has calculated that the employment rate from February to April 2017 was 74.8%, the joint highest since comparable records began in 1971. The Office for Budget Responsibility is due to publish its next report on the public finances later this month.

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