Statement from the Mayor of London on 3rd anniversary of Brexit
The Mayor of London, Sadiq Khan said: “Three years on from leaving the European Union, we must all now face the inescapable truth: that this unnecessarily hard-line version of Brexit is having a detrimental effect on the London and UK economy – at a time when we can least afford it.
“While Whitehall has taken a vow of silence on the damage Brexit is causing, businesses across the country are drowning under the weight of increased bureaucracy, staffing shortages and supply chain challenges. London is being hit hard by the loss of trade and talent to our global competitors.
“It is time to abandon the hostile mentality of the referendum years and open a dialogue with our European neighbours about greater alignment.”
Notes to editors
UK GDP is set to shrink by 1 per cent this year, compared to 0.1 per cent for the eurozone.
Brexit has reduced our GDP by 5.5 per cent, investment by 11 per cent and reduced goods and services trade by 7 per cent.
The London School of Economics found that Britons are paying an extra 6 billion pounds to eat because of Brexit with food inflation running at more than 13 per cent.
The estimated cost to the Treasury in lost tax revenues due to Brexit is 40 billion pounds.
The number of businesses in our city experiencing at least one skills shortage has now risen to almost 7 in 10.
The number of jobs in our city held by EU-born workers has fallen by over 80,000.