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Brexit clobbers financial exports but an even bigger hit is coming for the City

Trade figures for City services are revised sharply lower — and they can only get worse

Brexit clobbers financial exports but an even bigger hit is coming for the City
Photo: Getty Images

Back in July 2018, before the UK had even left the EU, leading Brexiteer Jacob Rees-Mogg suggested it could take 50 years to judge whether Brexit has been a success or a failure. 

So it was hasty for some Brexit supporters to declare victory on the basis of the initial official figures for financial services exports for the first quarter.

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