‘No deal’ Brexit could cost Britain about 500,000 jobs, says London mayor Sadiq Khan

The study by Cambridge Econometrics said that in a no-deal scenario, the industry that fares the worst will be financial and professional services, with as many as 119,000 fewer jobs nationwide.

By: Reuters | London | Published: January 11, 2018 3:31 pm

'No deal' Brexit could cost Britain about 500,000 jobs, London mayor says

London Mayor Sadiq Khan paid tribute to 26/11 victims at a memorial inside the Taj Mahal Palace Hotel in Mumbai on Monday. (Nirmal Harindran)

Britain could lose almost 500,000 jobs and 50 billion pounds ($67.41 billion) investment over the next 12 years if it fails to agree a trade deal with the European Union, according to a report commissioned by London Mayor Sadiq Khan. Cambridge Econometrics, an economics consultancy, looked at five different Brexit scenarios, from the hardest to the softest form of Brexit, and broke down the economic impact on nine industries, from construction to finance.