You can read 9 more articles this month
LEFTWINGERS rejected Sadiq Khan’s doom-mongering yesterday over claims that Brexit would compromise half a million jobs.
The London mayor commissioned analysts Cambridge Econometrics to investigate the impact of a “no-deal” exit from the EU.
The firm concluded that the country could have 500,000 fewer jobs in the worst-case scenario and nearly £50 billion less investment by 2030.
In London alone, there could be 87,000 fewer jobs and economic output could be 2 per cent lower by 2030 than predicted under the status quo.
Mr Khan responded to the findings with a call for the government to “negotiate a deal that enables us to remain in both the single market and the customs union.”
He said: “If the government continue to mishandle the negotiations we could be heading for a lost decade of lower growth and lower employment.
“The analysis concludes that the harder the Brexit we end up with, the bigger the potential impact on jobs, growth and living standards.”
But Communist Party general secretary Rob Griffiths said: “There is a concerted campaign now which is profoundly undemocratic to stay in the single market.
“City interests should not prevail over the democratic decision of the British people, and putting City interests first has already done huge damage to the productive economy of this country.”
The report said a “no-deal hard Brexit” would hit financial and professional services the hardest, with these having up to 119,000 fewer jobs nationally.
There could be 92,000 fewer jobs in science and technology, 43,000 in construction and 27,000 across the creative sector, according to the study.
Even a so-called soft Brexit in which Britain would remain in the single market but leave the customs union could result in 176,000 fewer jobs, analysts found.
But Trade Unionists Against the EU chair Doug Nicholls argued this diagnosis was blaming the wrong culprit.
“It was the EU’s regional policies and stability and growth pact that deliberately assisted the run down of British industry,” he said.
“I can't recall Sadiq complaining as our industrial regions were hammered.”
GMB’s national secretary for manufacturing Jude Brimble said there was “no question” Brexit could have a catastrophic effect on manufacturing.
"But David Davies is either too scared or too incompetent to even conduct proper risk assessments on what the impact might be.
"Brexit will inevitably have a big impact for many different sectors of the economy, but it will be those in manufacturing that could experience the fallout first.
“Many manufacturing firms rely on components, materials and goods zig-zagging between Britain and other countries in the European Union as part of their production and supply chains and barriers to that will be challenging.”
Former Ukip leader Nigel Farage suggested today that he could support a second referendum on EU membership.
He said it would put an end to "whinging and whining" by opponents of Brexit and “kill it off” for a generation.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by joining the 501 club.
Just £5 a month gives you the opportunity to win one of 17 prizes, from £25 to the £501 jackpot.
By becoming a 501 Club member you are helping the Morning Star cover its printing, distribution and staff costs — help keep our paper thriving by joining!
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by become a member of the People’s Printing Press Society.
The Morning Star is a readers’ co-operative, which means you can become an owner of the paper too by buying shares in the society.
Shares are £1 each — though unlike capitalist firms, each shareholder has an equal say. Money from shares contributes directly to keep our paper thriving.
Some union branches have taken out shares of over £500 and individuals over £100.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by donating to the Fighting Fund.
The Morning Star is unique, as a lone socialist voice in a sea of corporate media. We offer a platform for those who would otherwise never be listened to, coverage of stories that would otherwise be buried.
The rich don’t like us, and they don’t advertise with us, so we rely on you, our readers and friends. With a regular donation to our monthly Fighting Fund, we can continue to thumb our noses at the fat cats and tell truth to power.
Donate today and make a regular contribution.