Optimism about the outlook for Britain's financial services sector is at its lowest point since the financial crisis, a survey of finance firms showed on Monday.
The latest survey of 115 financial services firms by business lobby CBI and consultancy PwC found that optimism fell during the three months to September, the third quarter in a row that it has dropped, marking the longest decline since the depths of the financial crisis in 2009.
Over half of all financial firms surveyed said the general impact of Britain's Brexit vote was negative, with only one in ten firms seeing any upside.
"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 in a statement.
Britain's financial industry is the economy's biggest tax earner as firms benefit from a European Union "passport" allowing them to operate across the bloc from a British base.
Britain will have to negotiate new trading terms with the EU and it is unclear if full passporting for financial services will continue so that companies can avoid having to invest in a new base inside the EU.