Bank of England official warns 10,000 jobs will be lost on day one of Brexit

A Bank of England official said 10,000 financial services jobs could go on the first day of Brexit and that an independent report predicting a loss of 75,000 positions was "plausible".

Sam Woods, head of the Bank’s Prudential Regulation Authority (PRA), said the 75,000 number was not produced by the Bank of England, but came from a report by consultants Oliver Wyman in 2016, which gave a credible prediction of the impact of Brexit on financial services.