December 26, 2016

"Theresa May has been warned of an exodus of major financial firms from London if she cannot guarantee 'passporting rights' as part of our EU negotiations."

Mirror: Passporting rights allow banks to sell financial products and trade across the EU under a single set of regulations. by Jason Beattie

'A recent report by accountants PwC said up to 100,000 jobs in the UK financial services sector could be lost if the UK cannot strike a deal on passporting.

'Mr Shanahan said Ireland’s 12.5% corporation tax rate and its common legal system with England made it an "attractive" base for companies looking to move their HQ after Brexit .

'He said: “We have seen a huge increase in the amount of inquiries and activities across the globe."'

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