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Brexodus threat is not as strong as it seems

A year on from the vote, a global competitiveness report finds the UK ranks consistently well compared with countries hoping to lure City staff

City firms have many options on the departure board, but staying put may also prove attractive
City firms have many options on the departure board, but staying put may also prove attractive Photo: iStockphoto

It is one year since the UK voted to leave the EU and tension is still high. Bank of England governor Mark Carney warned this week that the impact of Brexit must first be assessed before tightening monetary policy and many in the City are still preparing for the departure of many jobs to other parts of the European Union.

Then again, the UK economy was supposed to have performed much worse than it has. And the expected stream of departures from the Square Mile has not actually materialised yet, beyond a trickle.

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