THOUSANDS OF LAWYERS AND BANKERS POISED TO LEAVE LONDON

By Publisher Ray Carmen

Thousands of lawyers, bankers and other white-collar professionals could move out of London over the next few years as businesses transfer more work to other parts of the United Kingdom.

According to Bloomberg News, recruiters estimate that approximately 90,000 London-based white-collar jobs may relocate elsewhere in the UK during the next five years.

The expected shift is being driven partly by the high cost of operating in the capital. Companies are increasingly considering regional cities where office space, salaries and other business expenses can be lower.

Greater political support for regional devolution may also encourage employers to expand their operations beyond London. The movement could benefit cities such as Manchester, Birmingham, Leeds, Edinburgh and Glasgow as organisations establish or enlarge regional offices.

Although London is expected to remain one of the world’s leading financial and legal centres, the figures suggest that the distribution of professional employment across Britain may change considerably in the coming years.

Image caption: Commuters crossing London Bridge, with the Shard and the City of London skyline in the background.