€6bn lost

[SmallTown]

EU share trading flees London on first day after full Brexit - https://on.ft.com/3oetcDi via @FT

Brilliant

 

[Chris_Boro]

It's only the financial service sector, it's not like its very important or anything.

Not even worth including in the Brexit deal.

 

[JackG]

€6 billion sounds a lot, but it's only volume of shares traded in a relatively niche part of the market - it's not income. To give some context, the London share of the forex market is just under $3 trillion daily

 

[Nero]

Given the ties the Tory Party has to the City, it would be very surprising if the sector was totally ignored. Jacob Rees-Mogg would be up in arms given he's involved in a Hedge Fund.

 

[SmallTown]

Given the ties the Tory Party has to the City, it would be very surprising if the sector was totally ignored. Jacob Rees-Mogg would be up in arms given he's involved in a Hedge Fund.

Yeah that’s why I find it strange they have allowed it to be damaged so badly

 

[Piccadilly Day Tripper]

EU share trading flees London on first day after full Brexit - https://on.ft.com/3oetcDi via @FT

Brilliant

That's just day 1 of trading. As mentioned above this figure relates to the value of transactions and is a small amount compared to the overall trading, but lets see where we are end of Q1.

 

[SmallTown]

That's just day 1 of trading. As mentioned above this figure relates to the value of transactions and is a small amount compared to the overall trading, but lets see where we are end of Q1.

It is a small amount. But it IS an amount. And that was in a single day as you say. Its certainly worrying but we all knew it was coming.

 

[bear66]

Given the ties the Tory Party has to the City, it would be very surprising if the sector was totally ignored. Jacob Rees-Mogg would be up in arms given he's involved in a Hedge Fund.

It was a good move by him of his funds to Ireland in 2018.

The €6bn is just the start as 30% of all EU shares are traded in London. Even that equates to a loss of £7bn in tax over a year.

The EU "membership fee" looks like a no brainer.