London Mayor: Brexit Has Cost UK Economy $178B

Bloomberg News reports:

London Mayor Sadiq Khan on Thursday will blame Brexit for costing the UK economy £140 billion ($178 billion), calling on the government to “urgently” rebuild relations with the European Union to stem the decline.

Britain’s EU divorce has also meant there are 2 million fewer jobs nationwide than there otherwise would have been, including 290,000 lost positions in London, according to research by Cambridge Econometrics commissioned by City Hall that the Labour Party’s Khan will reference in a speech at Mansion House.

Half of the total job losses are in financial services and construction. “The hard-line version of Brexit we’ve ended up with is dragging our economy down and pushing up the cost of living,” Khan will say, according to excerpts released by his office.

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Brexit has cost the UK economy £140 billion, London Mayor Sadiq Khan says https://t.co/mZmjwbN1uP

— Bloomberg UK (@BloombergUK) January 11, 2024