Only around a third of European finance firms without an office in the UK are expected to establish a presence in the country once Brexit measures ease, according to a report from think tank New Financial.

The report found that as of mid-March, 1,448 firms registered in the European Economic Area were using the Temporary Permissions Regime set up by the UK to allow EEA firms that were previously passporting into the UK to continue to operate in the country until the end of 2023.