Resilience in the City of London: the fate of UK financial services after Brexit

Figures & data

Table 1. Estimated job losses in prominent impact assessments

Conducted by	Release date	Commissioned by	Estimated losses
PwC	April 2016	TheCityUK	70-100,000
Oliver Wyman	October 2016	TheCityUK	3,500; 33,500; 70,000
Ernst & Young	November 2016	LSE Group	83,000
Bruegel	February 2017	-	30,000
Ernst & Young	December 2017	(EY Tracker series)	10,000
City of London Corp.	July 2018	-	5-13,000
Ernst & Young	September 2019	(EY Tracker series)	7000

Source: All assessments cited in main text

Figure 1. UK employment in financial services post-Brexit referendum. Source: NOMIS official labour market statistics.

Table 2. Total UK and EU27 FDI projects and % change, 2017-2018

	FDI projects 2017	FDI projects 2018	% change 2017-2018
UK overall FDI	1,205	1,045	Down 13%
EU27 overall FDI	5,448	5,311	Down 3%
UK finance FDI	78	112	Up 44%
EU27 finance FDI	263	304	Up 16%
UK manufacturing FDI	215	140	Down 35%
EU27 manufacturing FDI	1,767	1,729	Down 2%

Source: EY (2019a, 2019b)

Figure 2. Venture capital investment 2016-2019, including averages, in UK, Germany, France (billions of US dollars). Source: Tech Nation 2020.

Table 3. Total IRD’s and euro-denominated IRD’s in UK, France, and Germany: 2016 and 2019 (Daily averages, in millions of US dollars)

	2016			2019
	UK	France	Germany	UK	France	Germany
Total IRDs	1,180	141	31	3,670	120	56
% of global	38.8	4.6	1	50.2	1.6	0.8
Total Euro IRDs	574	101	17	1,584	87	32
% of euro global	74.9	13.1	2.1	85.6	4.7	1.7

Source: Bank for International Settlements (2016a, 2019a)

Table 4. FX total, FX euros, FX dollar swaps: 2016 and 2019 (Daily averages, in millions of US dollars)

Total FX	2016			2019
	UK	France	Germany	UK	France	Germany
	2,406	181	116	3,567	167	124
% total FX	36.9	2.8	1.7	43.1	2	1.5
FX euro	885	104	68	1,287	100	88
% total FX euro	43.3	5	3.3	47.8	3.7	3.2
FX dollar swaps	1,090	121	72	1,516	99	73
% FX dollar swaps	37.1	4.1	2.4	39.2	1.3	1.8

Source: Bank for International Settlements (2016b, 2019b)

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