Study shows half a million UK jobs at risk in no-deal Brexit_Business_Asia Pacific Daily

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Study shows half a million UK jobs at risk in no-deal Brexit

Business2018-01-12

A study commissioned by London Mayor Sadiq Khan shows that almost half a million jobs are under threat if Britain fails to strike a deal on future relations with the European Union before it leaves the bloc. The research released Thursday warns of a "lost decade" of significantly lower economic growth resulting in 482,000 fewer jobs and 50 billion pounds ($67 billion) of lost investment by 2030 if the worst-case scenario becomes a reality. Khan urged Prime Minister Theresa May to ensure Britain avoids this outcome by negotiating "a deal that enables us to remain in both the single market and the customs union." Khan says the analysis shows "the harder the Brexit we end up with, the bigger the potential impact on jobs, growth and living standards." (ABC)

A study commissioned by London Mayor Sadiq Khan shows that almost half a million jobs are under threat if Britain fails to strike a deal on future relations with the European Union before it leaves the bloc.

The research released Thursday warns of a "lost decade" of significantly lower economic growth resulting in 482,000 fewer jobs and 50 billion pounds ($67 billion) of lost investment by 2030 if the worst-case scenario becomes a reality.

Khan urged Prime Minister Theresa May to ensure Britain avoids this outcome by negotiating "a deal that enables us to remain in both the single market and the customs union."

Khan says the analysis shows "the harder the Brexit we end up with, the bigger the potential impact on jobs, growth and living standards."

(ABC)

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