City could lose 10,000 jobs on day of Brexit, says Bank of England

Deputy governor Sam Woods admits forecasts of 75,000 job losses in long term are ‘plausible’

The Bank of England has warned that 10,000 jobs could leave the City on “day one” after the UK leaves the EU.

Sam Woods, a deputy governor of the Bank, also admitted that forecasts of 75,000 job losses over the long-term were “plausible” at an appearance before peers on the Lords EU financial affairs sub-committee on Wednesday.

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