EU admits Brexit humiliation over hopes to steal thousands of jobs from City

Andrea Jenkyns tells Tories who don’t want Brexit to ‘sod off to Lib Dems’

Brussels bureaucrats and their Remainer allies have been humiliated again after an EU report admitted defeat on their hopes to take almost half the City of London jobs after Brexit.

It had been claimed that once Britain left the EU, stockbrokers and top financiers would depart London in their droves heading for Paris, Amsterdam and Frankfurt.

But the prediction that the EU would get 44 percent of these high-paid City jobs has proven to be another false prediction about Brexit by its opponents.

A European Parliament report into the EU/UK Trade and Cooperation Agreement highlighted the humiliation for Eurocrats and their Remainer allies in Britain.

It noted that “estimates suggesting 44 percent of the UK’s largest financial services firms announcing plans to move some staff or operations…though the number of jobs that have relocated out of London thus far is only 7,000 and far below the initial estimates of 75,000”.

READ MORE: City of London shocks BBC with facts about Brexit revealing it’s a huge success

The revelation had already been made by the City of London Corporation in a program for the BBC which was aimed at framing Brexit as a failure.

In it, Chris Hayward, policy chairman of the City of London Corporation, has revealed that there are now “thousands of extra jobs” in the City as a result of Brexit.

Hayward noted that while 7,000 jobs left because of Brexit, “many more thousands of jobs have been created as EU banks have shifted some of their operations to the City” to continue to operate in the UK market.

This has been boosted because the UK “is fast becoming a world leader in fintech and green finance.”

The Centre for Brexit Policy (CBP) also made a similar point.

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A CBP spokesman said: “It is good to see the Project Fear brigade having to eat their words. So many of the doomsters and gloomsters have been proved spectacularly wrong since the Brexit vote of 2016.

“Some 7,000 jobs moving to likes of Paris and Frankfurt are just a drop in the ocean. There are 615,000 people working in the City of London and the jobs are growing – up 73,000 from just before the 2020 pandemic.

“France and Germany did their best to lure City workers abroad, but they have failed woefully.”

Project Fear was the strategy worked up by former Chancellor George Osborne during the referendum when he ran the Remain campaign.

Reform UK leader Richard Tice said: “Once again we Brexiteers have been proven right and the Remoaners have egg on their face.”

Just this week another gloomy prediction was proven wrong when Nissan announced it would be building its two new electric vehicles in the north east of England.

One of the Project Fear claims was that Nissan would close its plant in Sunderland, but instead, it has expanded.

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