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City firms set to revive EU relocation plans in 2022, Brexit report predicts
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City firms are likely to revive plans to shift staff to the EU once Covid-related travel restrictions ease next year, a financial sector report has said, as the number contemplating such moves continues to rise.
Of the 222 largest UK financial services firms monitored by accountancy firm EY since the 2016 referendum, 97 of them (44%) have confirmed they are relocating staff or operations to the continent, or are considering it – up from 41% in January 2020.
While announcements regarding Brexit-related relocations have slowed in recent years, EY suggested further moves had probably been delayed, rather than reversed, over the past year because of Covid lockdowns and concessions on home working.
“It’s been nearly a year since the UK officially
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