brexit could cost nearly 500000 uk jobs
Last Updated : GMT 12:24:11
Arab Today, arab today
Arab Today, arab today

By the mayor of London

Brexit could cost nearly 500,000 UK jobs

Arab Today, arab today

Arab Today, arab today Brexit could cost nearly 500,000 UK jobs

London Mayor Sadiq Khan speaks at a rally before the Brexit referendum.
London - Arab Today

Britain’s exit from the European Union could cost the UK almost 500,000 jobs and nearly 50 billion pounds ($68 billion) in investment by 2030, according to a study commissioned by the mayor of London.

In a worst-case scenario, Britain would lose 482,000 jobs and 46.7 billion pounds ($62.9 billion) in investments in the next 12 years, according to research published Thursday by Cambridge Econometrics.

The report compares four possible post-Brexit scenarios to the option of remaining in the bloc, which has already been ruled out by the British government.

The most optimistic Brexit scenario outlined, of a two-year transition period leading to single market membership without the customs union, would still lead to a loss of 176,000 jobs and 20.2 billion in investment.

London Mayor Sadiq Khan, who campaigned against Brexit and commissioned the study, said the findings show "the potential economic risks and human costs at stake in the negotiations" in Brussels.

In a statement, the pro-EU mayor accused the government of a "complete lack of preparation" in assessing the consequences of Brexit.

Khan said it was “astonishing” that British Prime Minister Theresa May’s government had failed to do any analyses.

“This new analysis shows why the government should now change its approach and negotiate a deal that enables us to remain in both the single market and the customs union,” he said.

Transition arrangements, trade and security will be on the agenda of Brexit negotiations later this year before Britain leaves the bloc in March 2019.

The EU has slashed UK’s economic growth forecast for 2018 and said the slowdown would continue through 2019 as uncertainties over Brexit weigh on the economy.

Brussels believes that the British economy will slow to 1.3 percent in 2018 and 1.1 percent in 2019.

The figures put Britain's economy lowest in the bloc with Italy, and far behind the growth rate predicted for the euro area, which is expected to be 2.2 percent this year and 2.1 percent in 2018.

 

Source: AFP

arabstoday
arabstoday

GMT 02:03 2018 Saturday ,20 January

UK retail sales slide in December

GMT 05:20 2018 Tuesday ,16 January

UK construction firm Carillion collapses

GMT 09:52 2018 Monday ,15 January

EU more dependent on Russian gas

GMT 09:16 2018 Monday ,01 January

Chinese ban on ivory sales goes

GMT 05:30 2017 Tuesday ,26 December

Don’t panic! Oil price outlook improves
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brexit could cost nearly 500000 uk jobs brexit could cost nearly 500000 uk jobs

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brexit could cost nearly 500000 uk jobs brexit could cost nearly 500000 uk jobs

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today The Rake announces editorial updates

GMT 12:19 2018 Tuesday ,16 January

The Rake announces editorial updates
Arab Today, arab today Europe brings on charm and blue skies

GMT 06:12 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Arab Today, arab today Puigdemont candidate for Catalan president

GMT 05:31 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Arab Today, arab today Amazon to open first cashierless shop

GMT 05:52 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 13:36 2017 Friday ,22 December

Iraqi troops killed six ISIS militants in Mousl

GMT 12:33 2017 Friday ,22 December

Yara denies presenting new talk show

GMT 01:00 2017 Wednesday ,20 December

Saudi and Russia expnad food integration

GMT 14:33 2017 Tuesday ,19 December

German business morale eases back from record high

GMT 12:32 2017 Tuesday ,19 December

UK weather: The latest Sky News forecast

GMT 04:53 2017 Tuesday ,19 December

Egypt’s government signs agreement with Switzerland

GMT 04:27 2017 Tuesday ,19 December

Tensions dominate the Iranian parliament amid fears

GMT 11:35 2017 Monday ,18 December

Putin appreciates U.S intelligence cooperation

GMT 08:05 2017 Monday ,18 December

Mona Zaki reveals details of her new show

GMT 17:32 2017 Sunday ,17 December

Polls open in Chilean presidential election

GMT 07:16 2017 Sunday ,17 December

Yasmine Underlines importance of Fatimid Cairo

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:41 2018 Saturday ,17 March

testing from boss1

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday