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11th January 2018, 20:23

UK could lose half a million jobs & nearly £50 billion in investment by 2030 in the event of a no-deal Brexit

The UK could lose half a million jobs and nearly fifty billion pounds in investment by 2030 in the event of a no-deal Brexit, according to a study commissioned by London Mayor Sadiq Khan.

The analysis commissioned by Cambridge Econometrics, focused on five possible outcomes after leaving the EU, ranging from a near status quo scenario to leaving on World Trade Organisation terms without a transition deal.

The report found that 87,000 jobs would be lost in London alone with the capital’s economic output predicted to be down by 2% by 2030. The study concludes that while every outcome would harm the UK economy, the harder the Brexit, the more severe the economic damage would be.

Meanwhile former UKIP leader Nigel Farage has suggested a second EU referendum would put an end to moaning politicians. Speaking on Channel 5, he said the “leave” result be bigger next time round, and would kill off the issue for a generation.