The estates of Prince Charles are also facing a funding cut from Brexit of 100,000 pounds
PM Theresa May has said she will trigger formal talks to leave the EU by the end of March 2017
May will host the first meeting of the Joint Ministerial Committee since December 2014 on Monday
MBJ says it took around two months to set up in Berlin compared with some three days in London
May is calling on EU leaders to work together for a 'smooth' withdrawal following Britain's shock June vote to leave the bloc
Setting up a bank account and finding office space is tricky, with most landlords offering rental contracts for 3 to 5 years
Post Brexit, banks have resigned to losing the 'passporting rights' that allow them access to the rest of the EU from their bases in London
It seeks to challenge May's assertion that she as PM has the right to trigger Article 50 of the EU's Lisbon Treaty
There is no clarity on whether Britain will retain access to the European single market when it leaves the EU
Indian diplomat, Navtej Sarna, who will be visiting Washington shortly, has been asked to bring US, UK and India "closer"
Comments added to jitters on financial markets
The pound has come under renewed pressure as fears grow that Britain's divorce from the EU will be messier than expected
However, a survey last week suggested London's dominance could be under threat as the implications of leaving the EU sink in
New immigration rules to control the number of students heading to study in Britain were announced by the minister on Tuesday
Hammond's remarks came a day after PM Theresa May set a timetable for Britain's exit
Using Article 50 of the EU's Lisbon Treaty will give Britain a two-year period to clinch one of the most complex deals in Europe since World War Two
Sterling fell around 1 per cent against dollar to a seven-week low of $1.2850, and a three-year low against euro of 87.47 pence per euro
She has also promised a Great Repeal Bill in the next Queen's Speech, which sets parliamentary business for the year
The Bank of England held interest rates steady this month, but indicated it could cut rates if Britain's economic outlook weakens