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.

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.”

  • Obinice@lemmy.worldEnglish
    66·
    8 months ago

    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?

    • Barbarian@sh.itjust.worksEnglish
      381·
      8 months ago

      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?

  • XIIIesq@lemmy.worldEnglish
    58·
    8 months ago

    That’s over £2000 for every man woman and child in the UK.

    I want to be outraged, but I’m so politically fatigued.

  • jjjalljs@ttrpg.networkEnglish
    17·
    8 months ago

    I wonder if anyone learned anything. I wonder if the people who did learn anything learned the more general case of “conservatives have bad ideas”

    • verysoft@kbin.social
      11·
      8 months ago

      Its funny because they started it from a conservative trying to prove the people wont do it. Said conservative then resigned when people went ahead and did it.

    • Barbarian@sh.itjust.worksEnglish
      42·
      8 months ago

      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.

  • theodewere@kbin.social
    165·
    8 months ago

    the money went somewhere… it’s in somebody’s pockets, just look around and see who got rich… i’m betting it was the people who were already disgustingly wealthy before the big move…

    • straypet@lemmy.worldEnglish
      17·
      8 months ago

      If you have a car worth 20k and you total it into a wall, those 20k don’t go into someone else’s pocket, that value is just gone.

      Brexit is the wall, the UK’s economy is the car.

    • Buffalox@lemmy.worldEnglish
      10·
      8 months ago

      You are thinking about economy as a Zero sum game, but that’s not how economy works. Even if there are people that make money when the economy is down, that doesn’t mean they make as much as others have lost. If they did, the economy wouldn’t be down, it would merely have shifted.
      The fact that economy is NOT a zero sum game, is kind of a corner stone in how EU works. We all benefit from being able to trade with each other on equal terms.

      The fact that UK is doing as poorly as they are, kind of proves the idea is right. You can be against EU for ideological reasons, but being against it for economic reasons, make little sense. And the Brexit campaign constantly hammered the idea, that despite all reason, UK would somehow benefit economically from Brexit. Anyone who believed the Brexit propaganda were conned.

      The ones that might gain from this, are the filthy rich, who are working on undermining UK welfare and general conditions for middle and lower class people, to exploit the population more for their own gains.

        • Buffalox@lemmy.worldEnglish
          4·
          8 months ago

          Yes, working class is being systematically undermined, I think that may have been part of why the likes of Boris Johnson wanted out. They are doing things now that wouldn’t be legal as an EU member. For instance limiting the democratic freedom to protest.

    • radiosimian@lemmy.worldEnglish
      7·
      8 months ago

      Dude. The UK broke its trade deals and left. Now it pays increased taxes on all goods and services from the EU.

  • Rand0mA@lemmy.worldEnglish
    41·
    8 months ago

    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!!