But with less than three weeks to go before Brexit day on March 29, it is still unclear whether the deal will be approved, whether a departure from the EU will be delayed, or whether it will happen without agreement.
Paris is carving out a niche for markets and trading operations of banks and attracting a broad spread of firms. William Wright, founder and managing director of New Financial, said the hit to London was bigger than expected and would get worse. A 10 per cent shift in banking and finance activity would cut UK tax receipts by about 1 per cent, the report said.
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