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UK expects to lose 5,000 City jobs through Brexit

The UK government expects thousands of financial services jobs to have moved to the European Union by the time of the UK's exit from the bloc.

City minister John Glen said that the situation was "stable" as far as job movements were concerned.

However, he agreed with Bank of England estimates of 5,000 City jobs moving to the continent by March.

Mr Glen added he would do all he could to ensure that the City of London remained a major financial centre.

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BBC News

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