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 estimate he has made of the number of UK-based financial sector companies that (a) have moved certain operations abroad since the vote to leave the EU and (b) are planning to move operations abroad when the UK leaves the EU.

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

We understand the issues that the UK’s departure from the EU creates for the financial sector as a whole and for specific firms. The government believes that an implementation period agreed early in the process would help both sides to minimise unnecessary disruption. The Office of National Statistics (ONS) publishes regular updates on employment figures, including by sector.

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