Leaving the EU The UK lost £140 billion with Brexit

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The UK economy lost £140 billion (more than SFr152 billion) due to Brexit. This is what emerges from a report that today presents the Labor mayor of London Sadiq Khan in a speech anticipated by the media.

In addition to stating that the British divorce from the European Union “is not working” and has also had serious repercussions on employment, with an estimated 1.8 million fewer jobs, the mayor intends to call for closer ties with Brussels through a “new agreement” to avoid further backlash in the future.

The report, commissioned by the City of London from the Cambridge Econometrics company, also states that the output of the national economy is 6% lower than it would have been if the Kingdom had remained in the customs union and single market.

Khan has been riding the dossier of the negative consequences of Brexit for some time – which have also emerged in recent months from some analyzes conducted by the Bank of England – which the leader of his Labor Party, Keir Starmer, appears intent on keeping out of the issues of electoral campaign in view of the policies planned for the second half of this year, considering the exit from the European Union still a potentially divisive issue (despite the disappointment of many as demonstrated by the polls of recent months) and in any case not formally reversible in the short or in the medium term.

Khan also has a crucial electoral appointment ahead of him: in May he will attempt to win a third mandate as mayor of the capital.

The mayor’s speech also includes a statement on the topic of immigration: for Khan, an approach guided by facts and not by alarmism is necessary, as the economic, social and cultural benefits of the phenomenon must also be remembered.

This article is originally published on cdt.ch

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