Optimism about the prospects of Britain's financial services sector is at its lowest level since the financial crisis, a survey of finance firms showed.
The survey of 115 financial companies conducted by CBI and PwC revealed that optimism fell in the July to September period. It has been falling for the third consecutive quarter, marking the longest period of decline since 2009.
More than 50% of all surveyed financial firms said the Britain's decision to leave the EU had a negative impact. Only one in ten firms saw positive aspects.
"With firms voicing strong concerns about the impact of Brexit, especially the risks to the wider economy in the years ahead, the government must allay their unease with clear plans for negotiations to leave the EU," CBI chief economist Rain Newton-Smith said.
When Britain was part of the EU, it allowed financial firms to operate across the bloc under the same conditions. After leaving the EU, the UK would have to agree on the new terms of trade with the European Union.
