As many as 7,000 jobs in financial services have been lost since the UK left the European Union, Bank of England governor Andrew Bailey has said, far fewer than originally forecast.

Speaking before the Treasury Select Committee on 6 January, Bailey said the number of jobs which have migrated to the EU so far lies somewhere between 5,000 and 7,000. Some industry trackers had put projected job losses as high as 75,000, under a worst-case scenario in the long term.