Published: Sat, January 13, 2018
Business | By Max Garcia

Hard Brexit might endanger 14000 jobs in German vehicle industry

Hard Brexit might endanger 14000 jobs in German vehicle industry

Mayor Sadiq Khan said Britain could lose nearly 500,000 jobs if it failed to agree a trade deal with the European Union.

London's chief digital officer, Theo Blackwell, said: "London's science and tech sectors are some of the most innovative and exciting parts of our economy and are the rival of anywhere in the world for their dynamism and creativity". We hear from Europe only backward-looking stuff.

He said he was convinced that the leave campaign would win a second vote by a larger margin than the 52%-48% in 2016, but to a hold a second referendum would "set a precedent for revisiting any democratic decision made in future".

Asked what the United Kingdom could offer in return for access to the EU's single market in services, Hammond told Die Welt: "Every time European firms raise capital through the City of London and do so more cheaply than they could raise it elsewhere in Europe, that makes those businesses that little bit more competitive".

The report also shows that London could suffer much less from Brexit than the rest of the country - increasing geographic inequalities across the UK.

The stance follows a Bloomberg News report that EU officials are considering a proposal to require Britain to pay for financial companies to access European markets following Brexit.

A Downing Street spokesperson said May provided an overview of the UK's position and update on Brexit negotiations. When asked about the prospect of paying for access yesterday, Hammond did not reject the possibility, saying: "We will talk about all of these things".

"We can achieve arrangements and agreements with the European Union, and I am confident that we will be able to achieve a good deal".

"This is the first time that the various impacts of Brexit - trade, investment and migration - have been comprehensively assessed across a number of key indicators and sectors at sub-national level", said Cambridge Econometrics director Ben Gardiner.

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

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