Brexit Exodus Warning as Thousands of Banking Jobs Move to The EU

The SNP has warned that reports of thousands of jobs moving to France could herald the beginning of a “Brexit exodus” from the UK to Europe.

Stephen Flynn MP (pictured), the party’s Shadow Financial Secretary to the Treasury, blamed the shambolic handling of the Brexit process by the UK government for forcing companies to relocate.

The Governor of the Bank of France outlined that at least €170bn in assets and nearly 2,500 jobs have moved from the UK to France at the end of 2020.

Stephen Flynn MP said:

“Billions of pounds in assets and thousands of jobs lost to Europe is just the tip of the Brexit iceberg for the financial sector.

“The UK government’s shambolic deal risks a total Brexit exodus, leaving the UK an abandoned ship.

“Scotland has built a booming financial sector but the Tory government at Westminster has put our progress in grave danger.

“The UK government never contemplated the cost of a hard Tory Brexit but it’s ordinary people who will pay the price.

“Westminster Tories don’t care about Scotland’s financial sector – they want a hard Brexit at any cost.

“In Scotland, the best way to protect our financial sector is as an independent European nation.”