«Breaking News» Bankers 'WON'T be paid to commute from London to EU after Brexit'

City workers have been warned they will not be paid to commute from London to Paris or Frankfurt if jobs move after Brexit.

Thousands of posts could be relocated to the EU after the UK leaves in March - although the scale of the shift looks to be far lower than originally feared.

Many bankers were hoping they could keep their families in the British capital, which is seen as having far better schools and amenities than rivals. 

However, four big US banks are said to have made clear that commuting weekly from London to the new location of jobs is 'not a long-term option' after Brexit.

Many bankers were hoping they could keep their families in London, which is seen as having far better schools and amenities than rivals

French President Emmanuel Macron has been trying to woo business from the City to Paris

Staff have been told that while travel and accommodation costs will be met for the first few months, it will then be withdrawn, according to the Financial Times. 

'It's dawning on people that commuting isn't a long-term option,' one executive at a large US bank told the newspaper.

EU regulators are adamant that individuals who control large-scale operations in the bloc should be based there.

The ability of UK-based firms to function freely in the EU is expected to be curbed whether or not a Brexit deal is finalised. 

Morgan Stanley, Goldman Sachs, Citigroup, JPMorgan and Bank of America are set to relocate up to several hundred workers each after March — although their specific support plans have not been made public. 

Morgan Stanley is reportedly offering “short-term support” for those who want to commute but would prefer employees to live in the places where their roles are based.

French President Emmanuel Macron has been trying to woo business from the City to Paris.

Frankfurt has also been trying to tempt firms to shift, while Dublin is another potential beneficiary from the change.

The financial services sector is often regarded as the driver of the UK economy, and is far bigger than its equivalents across the EU. 

Paris has a far smaller financial sector than London, but is hoping to gain from Brexit

 

Link hienalouca.com

https://hienalouca.com/2018/12/31/bankers-wont-be-paid-to-commute-from-london-to-eu-after-brexit/
Main photo article City workers have been warned they will not be paid to commute from London to Paris or Frankfurt if jobs move after Brexit.
Thousands of posts could be relocated to the EU after the UK leaves in March – although the scale of the shift looks to be far lower than originally feared.
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Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Online news HienaLouca





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