Mayor of London report claims ‘no deal’ Brexit could cost 5,700 jobs in Tower Hamlets
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An estimated 5,700 jobs in Tower Hamlets could go if a ‘no deal’ hard Brexit takes place, the mayor of London has claimed today.
Figures released by Sadiq Khan claim that if the UK leaves the European Union in March 2019 with no deal on the single market, Customs Union or transition arrangements the jobs will be under threat.
According to the data the borough currently has 193,300 jobs but this could plummet to 187,600.
The borough could face the fourth highest number of lost jobs in London, with Westminster facing the highest loss with 12,100 jobs facing the axe.
Mr Khan, said: “Residents and businesses in Tower Hamlets will be shocked to learn of the huge economic risks – and human costs – at stake in the Brexit negotiations.
“It is up to the government to secure a Brexit deal that protects Tower Hamlets from a decade of lower growth and fewer jobs.”
The findings formed part of an analysis of the potential impact of five different Brexit scenarios on London and the whole of the UK, commissioned by the mayor last year from economic analysts Cambridge Econometrics.