MPs mull post-Brexit blues after Goldman warns of job losses
Finance is Britain’s biggest tax-raising sector, earning its government more than £70bn a year
London — British MPs launched an inquiry on Friday to plot the best way forward for finance after Brexit as Goldman Sachs warned it could cut jobs if the UK crashes out of the bloc without an agreement in two months’ time. The inquiry will determine if the country should track EU rules or cut loose to best serve its financial sector after Brexit. Finance is Britain’s biggest tax-raising sector, earning government coffers more than £70bn each year, and the EU is the sector’s largest single customer. “London is the world’s premier financial centre, and many of us want to keep it that way,” treasury select committee chair Nicky Morgan said in a statement. Britain has yet to secure a settlement with the EU to avoid leaving the bloc on March 29 without any framework, leaving banks, insurers, asset managers and trading platforms in Britain with European customers scrambling to open new EU hubs. Goldman Sachs CEO David Solomon told the BBC in Davos that the bank would invest less in Britai...
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