On Wednesday, a senior official from Britain’s finance ministry said many international financial services, including banks, who are currently based out of Britain are likely to decide whether they will continue to operate in Britain or relocate their operations out of the island nation.
Katharine Braddick, the Director General of Britain finance ministry, said the matter has gained heightened urgency especially for those who have clients in the European Union.
“Those plans, if you like, harden, become more firm, at the point at which they start to alter contractual paperwork. For most of the firms that we talk to that will fall at some point in the first quarter of next year,” said Braddick to lawmakers.
References:
reuters.com
Katharine Braddick, the Director General of Britain finance ministry, said the matter has gained heightened urgency especially for those who have clients in the European Union.
“Those plans, if you like, harden, become more firm, at the point at which they start to alter contractual paperwork. For most of the firms that we talk to that will fall at some point in the first quarter of next year,” said Braddick to lawmakers.
References:
reuters.com
