Brexodus begins as 1,000 jobs go

Skyline of Canary Wharf where the agencies are currently based

Skyline of Canary Wharf where the agencies are currently based - Credit: SIPA USA/PA Images

Up to 1,000 jobs are being relocated as a direct result of Brexit.

The European Banking Authority (EBA) is to be moved from London to Paris after Brexit, it has been announced.

The French capital beat off stiff competition to win the key agency in a victory Paris will view as a boost to its bid to get banks to shift operations from London after the UK leaves the EU.

EU chiefs also decided to move the European Medicines Agency (EMA) from London to Amsterdam once Britain quits the EU.

The two agencies are currently based in Canary Wharf where they employ around 1,000 staff.

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Liberal Democrat leader Sir Vince Cable said: 'While not surprising, these moves mark the beginning of the jobs Brexodus.

'Large private sector organisations are also considering moving to Europe and we can expect many to do so over the next few years.

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'That Davis Davis suggested the UK could keep these agencies shows just how little grasp the government has of the potential consequences of Brexit.'

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