In Britain, business sentiment and optimism about business prospects are deteriorating sharply. Statistics indicate that the indicator has been falling at the fastest pace since the global financial crisis of 2008. The main reason for this deterioration is Brexit, or rather, the uncertainty regarding the country's withdrawal from the EU. At the same time, business volumes are plummeting. According to the latest CBI/PwC Financial Services Survey, business volumes among 84 leading firms in the financial services sector have been decreasing at a record pace since September 2012.
The prospects for banks, insurance companies, fund administrators, and other financial firms are also worsening. The greatest drag on growth is observed in the investment management sector. Employment across financial services has declined at the quickest pace in four years due to the layoffs in the banking sector. However, insurance brokers note the positive trend. In general, the current situation is such that the UK will have to make every effort to protect its status as the global financial hub.
