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. “The cost of Brexit crisis can only be solved if we take a mature approach and if we are open to improving our trading arrangements with our European neighbors.”
Okay but think of all those millions we were sending to the EU that can now be spent on the NHS!
Just like the bus said! Right guys?
Guys?
Just think of all the trade agreements Britain has made now that it can independently negotiate! Why, the FTA with Australia alone increased GDP by checks notes 0.08%. Wait, that can’t be right. Surely the British public weren’t misled about any of this?
You know what’s closer to the UK than Australia?
Literally any European country.
In fact you can just drive goods into Britain from Europe or put them on a train instead of shipping/flying it from literally the other side of the world.
And you can have those deregulated pillows you’ve always dreamed about.
And the return of bendy bananas!
Pints of wine!
Sam Allardyce will be delighted.
That’s over £2000 for every man woman and child in the UK.
I want to be outraged, but I’m so politically fatigued.
£140 billion ($178 billion) so far
In the words of my ex, “I thought it would’ve been bigger.”
Can anyone explain how this increased the cost of living other than companies being greedy?
Legislation, paperwork, border checks and tariffs make it more expensive and difficult to transport stuff to the UK. Companies importing from the EU pass on the higher cost of transport to customers. Customers now pay more for the same thing because it costs more to import.
EDIT: Should also mention that this applies to stuff made in the UK too. I doubt there’s many industries that don’t use anything from the EU for raw materials. If you make a widget with German steel, you still pay for that import even if your widget is made in the UK. That cost gets passed on to customers too.
Also the falling value of GBP makes importing anything much more expensive.
Gotcha, thanks!
Is there anyone that’s still defending brexit and calling it a good thing?
Nigel Garage made it to third place in I’m A Celeb. There are a lot of thick flag-shaggers out there that still have their head in the sand.
Put that on the side of a bus.
What they really mean is “Brexit gave tory cunts the opportunity to rob the uk economy of £140bn and stick it their own pockets” someone needs to punch sunak in that smug horse face of his. Cunt!!
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140 in reference to what? What percentage of GDP is that? I don’t like large numbers that don’t have a reference point listed too. It might as well say £1.4e11 because it’s just as descriptive and meaningless without a sense of proportion. A percentage would have been a lot more useful.
You don’t need a percentage to make that number meaningful. That amount of money would nearly fund the US Navy for 1 year. They operate multiple nuclear aircraft carriers and submarines.
Does a number comparing it to a US thing contribute as much as giving a reference point to the UK thing? Comparing it to something outside of the UK doesn’t make it very relevant to UK people. Especially since most people have zero concept of the US naval budget as we tend to lump all military spending together in the US.
I just looked it up and the entire military budget for the UK is $68 billion. “Brexit cost UK twice annual defense budget” offers a much better scope. It hits in a way that a number too large for people to grasp just can’t do."
You do you, boo boo.
