brexit could cost nearly 500000 uk jobs
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

By the mayor of London

Brexit could cost nearly 500,000 UK jobs

Egypt Today, egypt today

Egypt Today, egypt today Brexit could cost nearly 500,000 UK jobs

Britain could lose 482,000 jobs by 2030 if the country crashes
London - Egypt Today

Brexit could cost the UK nearly 500,000 jobs in a worst-case scenario, according to a study published Thursday which was commissioned by the mayor of London.Britain could lose 482,000 jobs by 2030 if the country crashes out of the European Union, according to research by Cambridge Econometrics.
A scenario in which the UK fails to agree a transition deal and future trading relationship with the bloc would also cost Britain £46.7 billion ($62.9 billion, 52.7 billion euros) in investment over the same period.

The report compares four possible post-Brexit scenarios to the option of maintaining the status quo — already ruled out by the British government — of staying in the European single market and customs union.

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, commissioned the study and said the findings show “the potential economic risks — and human costs — at stake in the negotiations” in Brussels.

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.

A spokeswoman for the Brexit department said the UK and Brussels believe they will “achieve an ambitious deal securing prosperity” for Britain and the bloc, having concluded the first stage of exit talks last month.

“The UK wants a deep and special partnership with the European Union, a partnership that spans a new economic relationship and a new relationship on security,” the spokeswoman said.

Cambridge Econometrics also forecast that the worst-case scenario would lead to the largest drop in immigration, allowing the government to reach its target of under 100,000 arrivals from 2020 onwards but hitting productivity.

Comparatively, maintaining the status quo would see migration falling from 232,000 in 2020 to 220,000 a decade later.

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

Source:AFP

egypttoday
egypttoday

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



GMT 09:20 2017 Monday ,04 September

United kingdom will not be pressured

GMT 07:24 2017 Monday ,06 March

Britain's budget gearing for Brexit

GMT 10:32 2017 Friday ,20 January

IMF warns UK of future pain over Brexit

GMT 11:56 2017 Monday ,09 January

Asian markets start week

GMT 10:45 2016 Thursday ,15 December

Russia and Brexit loom

GMT 09:23 2013 Thursday ,03 January

Haifa Wehbe: No 2012 regrets

GMT 16:55 2018 Tuesday ,16 January

Stylist fashion editor commences role

GMT 21:47 2015 Monday ,31 August

Jack Black stars in new 'Goosebumps' trailer

GMT 08:04 2017 Monday ,30 October

Pakistani bridal brand Élan showcases

GMT 11:57 2018 Thursday ,04 January

Thiem through but more seeds fall at Qatar Open

GMT 08:46 2017 Friday ,07 July

Stella Magazine associate editor

GMT 09:48 2017 Sunday ,22 October

Barcelona roll on calmly amidst Catalan chaos

GMT 08:09 2017 Monday ,27 February

A Useful Guide to Repaint the Exterior of Your Home

GMT 13:41 2017 Saturday ,06 May

Shah Rukh Khan’s Dubai film

GMT 23:20 2017 Wednesday ,08 February

In same sportive look as sibling Gigi

GMT 12:55 2018 Wednesday ,21 November

Bahrain condemns terrorist attack in Afghanistan

GMT 09:17 2018 Monday ,05 November

Edouard Philippe arrives in New Caledonia

GMT 11:20 2018 Friday ,12 October

Young Egyptian woman serves as minister for a day

GMT 10:20 2017 Monday ,29 May

Morocco protest leader arrested

GMT 23:11 2016 Monday ,20 June

Walmart, JD.com announce alliance in China

GMT 11:54 2015 Sunday ,05 July

7 Pakistani troops killed

GMT 00:33 2017 Wednesday ,01 February

Welcome back, Oman!

GMT 11:01 2017 Saturday ,25 February

Spain to cull 17,000 ducks as bird flu hits

GMT 17:40 2014 Monday ,22 September

5 memory strategies for learning anything fast
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday