Emily Ashton and Julian Harris
Wed, January 11, 2023
(Bloomberg) -- London Mayor Sadiq Khan will warn of the “immense damage” Brexit is doing to the capital’s City financial district, and accuse the government of ignoring the wider impacts on Britain.
In a keynote speech to City leaders on Thursday evening, Khan will say it’s wrong to “pretend” that the UK’s exit from the European Union isn’t causing harm, according to a statement from his office.
“The reality is that the City of London is being hit hard by the loss of trade and talent to our competitors because of Brexit,” he will say. “London cannot afford to fall behind any of our international competitors.”
Khan’s comments follow polling showing many of those who voted for Brexit in the 2016 referendum are having second thoughts. A YouGov survey last week found that a quarter of those Leave voters who regret their decision blame a general sense that things have got worse since Brexit. YouGov polling in November found that the wider public now think Britain was wrong to leave the EU, by 56% to 32%.
Khan, who campaigned for Remain and has long been vocal about the negative consequences of leaving the EU, will say he “simply can’t keep quiet about the immense damage Brexit is doing,” according to a draft of his speech briefed by his office.
“Ministers seem to have developed selective amnesia when it comes to one of the root causes of our problems,” he will say. “Brexit can’t be airbrushed out of history or the consequences wished away.”
Brexit has reduced Britain’s GDP by 5.5%, cut investment by 11% and slashed goods and services trade by 7%, Khan said. Britons are also paying an extra £6 billion ($7.3 billion) to eat because of Brexit, he said, equivalent to £210 added to the average household supermarket bill over a two-year period.
Khan’s words could also be seen as a veiled criticism of Labour leader Keir Starmer who has dismissed calls to rejoin the EU’s single market, and embraced the language of Brexit with the promise of a “Take Back Control Bill” to hand more powers to communities.
Sadiq Khan calls for debate on rejoining single market and says ‘Brexit isn’t working’
Dominic Penna
Thu, January 12, 2023
Sadiq Khan - Tristan Fewings/Getty Images Europe
Sadiq Khan on Thursday called for a debate on Britain rejoining the single market and customs union as he warned that “Brexit isn’t working”.
Mr Khan, the Labour Mayor of London, went against the policy of the national party to advocate a return to closer economic ties with the European Union.
Sir Keir Starmer, the Labour leader has ruled out rejoining the single market if his party wins the next election, and last week appropriated a Vote Leave campaign slogan by promising to unveil a “Take Back Control Bill”.
In a speech to business leaders at Mansion House, Mr Khan said: “I simply can’t keep quiet about the immense damage Brexit is doing.
“Ministers seem to have developed selective amnesia when it comes to one of the root causes of our problems. Brexit can’t be airbrushed out of history or the consequences wished away.”
Mr Khan suggested Britain’s economic difficulties were not “beyond repair” and could be eased by “a shift from this extreme, hard Brexit”, saying: “We need greater alignment with our European neighbours.”
He added: “That includes having a pragmatic debate about the benefits of being a part of the customs union and the single market.”
Detrimental effects when we can least afford it’
The Mayor acknowledged that “no one wants to see a return to the division and deadlock” of the years between the British public voting to leave the EU and Brexit finally happening on Jan 31, 2020, but stressed that Brexit had had detrimental effects “at a time when we can least afford it”.
Sir Keir last year pledged to “make Brexit work” without reopening negotiations on the UK’s trade deal.
Instead, Labour has said it would negotiate a new security pact with Brussels and implement measures that it says would ease tensions created by checks required by the Northern Ireland Protocol.
Asked about Mr Khan’s comments by reporters, Rishi Sunak’s official spokesman said: “Our position has not changed. The British people set out their view back in 2016, and the Government is busy enacting, particularly focusing on the benefits of Brexit with the Rule Bill among other things.”
Last week, polling for Opinium showed that Conservative voters are losing faith in the benefits of Brexit, with many now believing that the costs outweigh the benefits.
Dominic Penna
Thu, January 12, 2023
Sadiq Khan - Tristan Fewings/Getty Images Europe
Sadiq Khan on Thursday called for a debate on Britain rejoining the single market and customs union as he warned that “Brexit isn’t working”.
Mr Khan, the Labour Mayor of London, went against the policy of the national party to advocate a return to closer economic ties with the European Union.
Sir Keir Starmer, the Labour leader has ruled out rejoining the single market if his party wins the next election, and last week appropriated a Vote Leave campaign slogan by promising to unveil a “Take Back Control Bill”.
In a speech to business leaders at Mansion House, Mr Khan said: “I simply can’t keep quiet about the immense damage Brexit is doing.
“Ministers seem to have developed selective amnesia when it comes to one of the root causes of our problems. Brexit can’t be airbrushed out of history or the consequences wished away.”
Mr Khan suggested Britain’s economic difficulties were not “beyond repair” and could be eased by “a shift from this extreme, hard Brexit”, saying: “We need greater alignment with our European neighbours.”
He added: “That includes having a pragmatic debate about the benefits of being a part of the customs union and the single market.”
Detrimental effects when we can least afford it’
The Mayor acknowledged that “no one wants to see a return to the division and deadlock” of the years between the British public voting to leave the EU and Brexit finally happening on Jan 31, 2020, but stressed that Brexit had had detrimental effects “at a time when we can least afford it”.
Sir Keir last year pledged to “make Brexit work” without reopening negotiations on the UK’s trade deal.
Instead, Labour has said it would negotiate a new security pact with Brussels and implement measures that it says would ease tensions created by checks required by the Northern Ireland Protocol.
Asked about Mr Khan’s comments by reporters, Rishi Sunak’s official spokesman said: “Our position has not changed. The British people set out their view back in 2016, and the Government is busy enacting, particularly focusing on the benefits of Brexit with the Rule Bill among other things.”
Last week, polling for Opinium showed that Conservative voters are losing faith in the benefits of Brexit, with many now believing that the costs outweigh the benefits.
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