Brexit uncertainity 'sees building work on larger developments in Tower Hamlets stopped'
PUBLISHED: 19:00 02 January 2019
Larger developments planned for Tower Hamlets have been put on ice while the uncertainty of Brexit remains, it has been claimed.
The Tower Hamlets Brexit Commission heard anecdotal evidence about the affected Brexit is having in the borough during a round table discussion in Brick Lane.
The commission spoke to businesses about the likely impact of the UK leaving the EU on the borough.
Bangladeshi representatives from the telecommunications, construction, property restaurant and media sectors warned that the uncertainty is having an impact on firms in Tower Hamlets.
Representatives from the construction sector said that some larger developers had stopped building while they wait for the direction and nature of our departure from the EU to become clear.
They claimed this has resulted in a knock on effect on the smaller outfits that rely on sub-contracting as part of major projects.
Councillor Amina Ali, who is the cabinet member for Brexit and chair of the commission, chaired the event.
She said: “We went to Brick Lane, one of the jewels in the crown of Tower Hamlets in the heart of Banglatown, to hear what impact it will have there.
“Our round table discussion raised a number of very interesting issues which will be included in the commission’s report due to be launched next month.”
The event also discussed issues ranging from the increased cost of importing goods into the UK with a weaker pound; in addition to the wider discussions on the future of the Brick Lane and Tower Hamlets economies more widely.
Cllr Ali added: “We wanted to hear from every part of our community and that includes small and medium sized businesses.”
John Biggs, mayor of Tower Hamlets, added: “We are preparing Tower Hamlets for the impact of Brexit. The commission has already heard that sectors are experiencing pressures due to the uncertainty around what will happen.
“We are reaching out to all sectors and sections of our borough so we are prepared and so that the East End can continue to adapt and thrive.”
The final report from the commission, which will look closely at the likely impact of Brexit throughout the borough, is due to be published in February.