>> Any Brexiters from the city of London could be much smaller than feared. A Reuters' survey of companies shows they've slashed estimates of how many jobs they'll have to move abroad after Britain leaves the European Union. It could be as few as 10,000 in the next few years, if the UK leaves the single market, the findings show.
As Reuters' Andrew MacAskill reports, many estimates either side of last June's EU referendum put leavers at anywhere from the high tens of thousands to 200,000 people. The sector employs about half a million workers in the UK.>> Well I think originally when a lot of those numbers came out it was lobbying.
They were desperate to stay part of the single market and they had these very dire warnings about what would happen. And also so in the aftermath of the vote a lot of the banks hadn't done a lot of the granular work to work out how many people they had to move.
Now we're a year on, they've had to submit finds to the banks of England they've had a much closer look at how many people they were to move. Now as a result, you've seen the banks shift down quite significantly in some cases.>> Finance is Britain's most profitable sector and it pays the most taxes.
Banks could be hard hit if they lose the EU passport that permits them to sell their services all across the European Union.>> It's clear that the banks are gonna be the most impacted. And then followed by much smaller numbers in terms of the insurance and asset managers.
One of the other clear findings is that Frankfurt is gonna be the clear winner taking jobs. They look to take about at least half the roles. And then followed by Paris and Dublin much further behind in second and third place.>> For now, though, the new number will allay fears that London is about to lose its status as Europe's financial hub.