'No Deal' Brexit Could Cost UK About 500000 Jobs, London Mayor Says

'No Deal' Brexit Could Cost UK About 500000 Jobs, London Mayor Says

As Brexit talks progress, the City of London's continued role as the heart of the European financial centre remains under threat, with little clarity over what it might look like after Britain leaves the EU. We hear from Europe only backward-looking stuff. "More than 80 percent of our economy is services".

"In our goods trade with the rest of the European Union, we have an annual deficit of €100bn whilst we have a surplus of €40bn in our trade in services".

"I think if we had a second referendum on European Union membership we'd kill it off for a generation".

Speaking after a meeting with EU Brexit negotiator Mr Barnier and members of a British pro-Leave delegation, Mr Gill said: "This trade deal, if we enter it on bad circumstances, will do just that: it will basically hold us back from trading with the world".

"A no-deal Brexit runs the risk of completely undermining the growth and development of recent years and could see London fall way down the league table of global science and tech hubs".


In a statement the Europhile mayor accused the government of a "complete lack of preparation" in assessing the impact of Brexit, urging ministers to change their negotiating position and agree to remain in the single market and customs union. Why should you cut yourself off from the world's leading financial centre right on your doorstep and find yourself beholden to other centres like Hong Kong, Singapore, New York or Tokyo? "I understand that you don't want to be like Norway".

The demand for German auto parts used in Britain is high, with German manufacturers supplying the British automobile industry directly, and also indirectly involved in the production of German and other European cars which are exported to Britain, stated a report from Xinhua. Equivalence can be withdrawn at short notice, would probably cover fewer services and may mean the United Kingdom will have to accept rules it has no say over.

In his interview with Die Welt, Hammond likened the current phase of negotiations to a romantic ritual: "It's a courtship".

"To us, that sounds more like a poker game where one tries to pull a fast one on the other", his interviewer responded.

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