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Mayor of London reiterates danger hard Brexit poses to industry
Mayor of London reiterates danger hard Brexit poses to industry

Mayor of London reiterates danger hard Brexit poses to industry

The Mayor of London has once again reiterated the dangers of hard Brexit on investment, growth and jobs in a variety of industries in the UK.

Speaking at the Financial Times’ Women’s 125 Forum, Sadiq Khan said that a “sensible Brexit” is what is required if investment, trade and ultimately, the economy are to be protected.

His speech came ahead of a crunch Cabinet meeting where a final deal will be agreed on its Brexit position; however, the Mayor is worried that the agenda of ministers such as Boris Johnson, David Davis and Michael Gove – who seem to support a hard Brexit – could derail prosperity in the country.

The risks of a no-deal hard Brexit have been investigated previously; earlier this year, independent economic analysis from Cambridge Econometrics revealed that it could result in 500,000 fewer jobs and almost £50 billion less investment by 2030 than would otherwise be expected.

For London, there could be as many as 87,000 fewer jobs than expected if a no-deal hard Brexit is to be pursued.

The analysis also highlighted the dangers to the construction industry, with 43,000 fewer jobs in the sector expected – seriously impacting on the ability to undertake huge infrastructure projects.

At a time when professionals from the industry are retiring, and the underlying skills shortage, a hard Brexit could be detrimental to the long term prospects.

And the Mayor has therefore implored a sensible conclusion.

“At the very heart of the Cabinet are hard Brexit zealots who are hell-bent on crashing the UK out of the single market and customs union without any plan to protect trade, investment and jobs.

“It is high time that these Ministers face up to reality and realise that we are now in the last chance saloon if we want to reach a Brexit deal that won’t badly damage our country.

“The Prime Minister appears to understand what is at stake, but is being held hostage by the hard Brexiteers. If Ministers do not sort themselves out, and secure a sensible Brexit deal that is in the best interests of the entire country, then they may never be forgiven.”

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