A Brexit will destroy 'tens of thousands' financial industry jobs

Britain’s Chancellor said in no uncertain terms that the UK leaving the European Union — dubbed a Brexit — will kill of
“tens of thousands” in the financial services industry
Osborne reiterated the government’s Treasury analysis over the potential impact a Brexit would have on the country and added that it would also affect 285,000 jobs in the sector that have business links in Europe, said Osborne speaking at the
FT125 Forum event in the City on Monday evening.

“A vote to leave the EU would put all this at risk,” said Osborne before adding that he had to speak up in order to avoid “catastrophe for business, investment, jobs and incomes. Some people may think wrecking our economy is a price worth paying but I totally disagree.”

Britons vote in the EU referendum on June 23 and in April, the government released a 200-page report with calculations on the effect of Brexit on the UK economy.

The two key takeaways — if Britain does vote to leave the EU — from Osborne’s report are:

  • Britons will be £4,300 worse off a year.
  • The economy will shrink by 6% by 2030.

On Tuesday, the British Chambers of Commerce said that 54% of 2,200 members it surveyed last month that they would vote Remain. This means more businesses and coming round to voting for a Brexit as the remain vote amongst firms was at 60% in its February’s survey.

Meanwhile, the leave vote amongst businesses has risen to 37%, from 30% two months ago.

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