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The Institute for Fiscal Studies (IFF) said today that the Brexit will come at a cost for the UK financial-services industry, regardless of the secured by the government as it negotiates with the European Union, according to Bloomberg.
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In its published report, the Institute said that banks may be hit hard if Britain loses single-market access as firms would lose the passporting rights that allow them direct access to the EU. It added that maintaining access is likely to require membership of the European Economic Area ... (read more)