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Brexit will "increase inequality" between London and rest of UK

12 January 2018, 10:40 | Melvin Schneider

CC BY 2.0 muffinnEU to Notify UK Businesses of Halting Financial Support in Case of Hard Brexit- Reports

BBrexit sailing apart- bon voyage

Up to 87,000 jobs in the United Kingdom capital are at risk if the country withdraws from the European Union without a formal agreement being reached during the negotiations between London and Brussels, the Evening Standard reported, citing Brexit impact papers commissioned by London Mayor Sadiq Khan.

The mayor told Sky: 'This independent analysis should help guide the Government to the best outcome for London and the UK.

Mr Khan is warning that with just 10 months to go, time is running out.

A report commissioned by the mayor's office and carried out by independent researchers at Cambridge Econometrics claims that should Britain leave the European Union without a deal in place, London stands to lose 6,000 creative industries jobs by 2030, with the country as a whole facing the loss of 27,000 creative jobs. "It's astonishing that the Government has failed to do any proper impact assessments on what Brexit could mean for our economy", he said.

Referring specifically to the impact on the creative industries, Khan said Britain's reputation as a global creative capital could be threatened.

The study said that in a no-deal scenario, the industry that fares the worst will be financial and professional services, with as many as 119,000 fewer jobs nationwide. "A "no deal" hard Brexit is still a very real risk - the worst possible scenarios".

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"Their complete lack of preparation is irresponsible leading to fears that they are putting party politics ahead of the national interest".

He added that he was releasing the documents because British people and businesses deserve to know how Brexit will impact their lives and finances.

"Brexit and leaving the single market and customs union puts any hope of well-funded schools and hospitals and police on our streets under immediate and serious threat".

A new report has warned that up to 87,000 jobs are at risk in London if Britain walks away from European Union negotiations without a Brexit deal.

There could be 92,000 fewer jobs in science and technology, and 43,000 fewer jobs in construction.

As Britain gears to leave the EU in March 2019, London Mayor Sadiq Khan had commissioned a set of economic studies to find what would happen if the country leaves with no deal on the single market, customs union or transition arrangements?



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