Will the city of London survive after brexutWatch
Many commercial properties will sit empty for months, office complexes will have lower occupancy rates and market rents will fall.
But the government will react with supply side measures (possibly accompanied by new legislation making city of london a tax haven) to attract startup firms, entrepreneurs and overseas enterprises interested in establishing a city of london presence.
Brexit supporting UK entrepreneurs, small startups and family businesses will likely relocate first.
Followed by overseas brexit supporters, smaller overseas businesses looking to establish a presence in london and a few financial firms looking to play tax systems.
Then in the medium term, larger international concerns setting up subsidiary operations and businesses that used to incorporate in the european/carribean & american tax havens.
The above predictions are all based on a conservative government being in office between march 2019- march 2022.
10,000 jobs is a tiny fluctuation compared to the number of people working in the city.
City jobs are at risk as Canaccord Genuity blamed “uncertainty looming over the country” for what it said will be “significant” cuts though it wouldn’t say exactly how many roles will go.