London will suffer from Brexit more than other regions of the UK,
with the financial sector expected to lose up to 70,000 jobs, a report
of the UK-based think tank Centre for London said on Thursday.
“The risks to London’s economy, from the loss of these workers and
students, and access to the European Single Market, are considerable.
“70,000 jobs could be lost in financial and related services alone,”
the think tank said, adding that London depends on students and workers
from across the European Union “to a far greater extent than the rest of
the country.”
According to the report, such losses would be a significant blow for
financial services of the UK capital, but the sector would still
survive.
“Highly-specialised clusters like financial services and other world
city functions are ‘sticky’, and London would still retain the critical
mass to be one of the major global centres for financial services,” the
report stated.
The think tank noted that London “needs to remain open, and also needs to become more affordable and liveable.”
It presents a number of recommendations for the UK government to soften
the influence of Brexit, including the suggestion for London Mayor Sadiq
Khan to join the withdrawal negotiations.
“The Mayor of London should join with the mayors and leaders of the
UK’s major cities to form a Convention of City Leaders on Brexit, and
the next government should actively engage with these cities, to ensure
that their needs are properly addressed in negotiations and further
devolution,” the report said.
Other recommendations of the report include introduction of a
regionally managed migration system for the regions to be able to
“define their skills needs and to agree work permit quotas with
Government.”
Others are the introduction of one-year City Maker Visas for EU
citizens to visit London to look for job opportunities, and two-year
post-study work permits for graduates to stay in London and “contribute
to the economy.”
The UKm officially launched the Brexit process on March 29.
The negotiations with the European Union on the terms of withdrawal
from the bloc started on June 19 and are expected to conclude by the end
of March 2019.
Popular News
-
Mesothelioma is an aggressive cancer affecting the membrane lining of the lungs and abdomen. Malignant mesothelioma is the most serious o...
-
A US mayor of a small town in Illinois who sent Police officers on Sunday to break up parties amid coronavirus lockdown was left shocked ...
-
The United States has announced that starting March 1, 2023, it will increase visitor visa validity from 24 months to 60 months for Niger...
-
For the quarter, added 537,000 residential and small enterprise business internet customers versus 380,000 within the prior year quarter....
-
Drivers of ride-hailing apps in the country, Uber, Bolt, LagRide and Indriver, have embarked on a nationwide strike on Wednesday, June 7. ...
-
Malignant mesothelioma is an uncommon cancerous tumor . It mainly affects the lining of the lung and chest cavity (pleura) or lining...
-
Happy New Month Nigeria! Welcome to the month of June. As the world searches for a respite from all its troubles since 2020 began, one can ...
-
A broadcast journalist with DAAR Communications Plc, Ms Ijeoma Osamor, testified on Friday at the Presidential Election Petition Court (P...
-
New York has been named the billionaire capital of the world as it boasts 136 of the super wealthy moguls. The Big Apple came out ahead o...
-
The military has assured Nigerians that it will work in collaboration with other security agencies to ensure that the 2023 general electi...
-
Italy have been crowned champions of the 2020 European Championship after defeating England 3-2 in penalties on Sunday night, July 11. ...
-
“Every improvement contributing to your outstanding experience is our daily motivation.” - Remitano Every product and feature on the Rem...
-
For the quarter, added 537,000 residential and small enterprise business internet customers versus 380,000 within the prior year quarter....
-
SMS marketing is a marketing channel which allows businesses to message customers with marketing messages through SMS, or more commonly kn...
-
Breaking news about iceland country incredible but true if you are interested read the full story iceland team was able to achieve an ...
-
Happy New Month Nigeria! Welcome to the month of June. As the world searches for a respite from all its troubles since 2020 began, one can ...
-
An Israeli professor has claimed that coronavirus will disappear after 70 days with or without intervention. The unproven claims were ma...
-
The Remitano founding team has always maintained the belief and vision that blockchain and cryptocurrencies are a big step forward for s...
-
Would you believe it if someone tells you that cayenne pepper has the power to stop a heart attack within a minute? Believe it or not, thi...
-
Apparently, ginger, a well-known spice we frequently add to different dishes to enhance the flavor, has the power to prevent cancer. But, i...
- bitcoin
- bitcoin mining
- Coronavirus
- dr anu nigeria
- coronavirus china
- Benefit Of Ginger Water
- Bobrisky
- Buhari
- coronavirus cure
- benefits of drinking milk
- Biafran War
- coronavirus death rate
- coronavirus outbreak
- dede one day mansion
- coronavirus update
- History of Biafra
- How To Make Ginger Water
- eri
- How to save your phone battery
- is 5g dangerous
- Kobe Bryant
- Jennifer Aniston
- kobe bryant family
- latest nigeria news paper
- kobe bryant wife
- latest on nigeria news
- naija news
- Malignant mesothelioma
- nigeria news
- Mesothelioma survival rates
- newspaper online in nigeria
- nigeria news breaking
- nigeria news headline today
- nigeria news of the day
- nigeria news paper online
- nigeria newspaper
- nigeria news paper today
- nigeria news today & breaking
- nigeria newspaper online
- nigerianewspaper
- nigeria newspapers
- Regina Daniels
- online dating scams
- Side Effects Of Eating Corn
- t mobile data usage
- online nigeria news
- what is tiger nut
- tiger nuts
- Tyson Fury
0 comments:
Post a Comment