Brexit's Impact on the City of London

Brexit has led some finance firms to relocate parts of their operations to Europe, with new finance hubs emerging in cities like Amsterdam and Dublin. COVID-19 has slowed this relocation process, but more moves are expected. The UK is awaiting a decision on equivalence, which would allow full access to the EU market, but talks are slow due to tensions over Northern Ireland. The real loss is the job opportunities now arising in Europe that could have been in the UK.

What has been one of the effects of Brexit on finance firms?

• Increased investment in the UK

• Movement of operations to European hubs

• Expansion of UK-based jobs

• Reduction in legal entities

Which cities are becoming new finance hubs due to Brexit?

• Lisbon and Warsaw

• London and Paris

• Berlin and Madrid

• Amsterdam and Dublin

How did COVID-19 affect the relocation of finance firms?

• It accelerated the process

• It had no impact

• It reversed the relocations

• It slowed down the relocation

What is the significance of the equivalence decision for UK finance firms?

• It allows full access to the EU single market

• It increases tariffs on UK exports

• It reduces the need for legal entities

• It mandates relocation to the US

What is considered an immeasurable loss due to Brexit?

• The decline in UK tourism

• The opportunity cost of jobs moving to Europe

• The rise in UK property prices

• The increase in UK taxes