No-deal Brexit could cost the UK almost 750,000 jobs, claims study

No-deal Brexit could cost the UK almost 750,000 jobs, claims study

Monday, December 10, 2018

Almost 750,000 jobs could be lost if the UK leaves the EU without a deal in place, including many in the constituencies of Cabinet members, a new study suggests.

Research by academics at Sussex University indicated that some parts of Britain, such as London, would be worst affected on the jobs front by a no-deal Brexit.

Around 1,700 jobs would go in the Maidenhead constituency of Prime Minister Theresa May, 950 in Jacob Rees-Mogg's North East Somerset, and 1,100 in Runnymede and Weybridge, represented by Chancellor Philip Hammond, said the report.

Almost 150,000 jobs could be lost in London, 80,000 in the North West, 63,500 in Scotland and 28,600 in Wales, according to the research.

 

'Livelihoods of hundreds'

​​​​​​​The biggest job cuts among residents would be in large commuter cities such as Watford and Reading.

Dr Ilona Serwicka, a research fellow in the economics of Brexit at the University of Sussex, said: "This research makes very clear that both soft and hard forms of Brexit, but in particular a no-deal Brexit, will have a negative impact on the lives of residents the length and breadth of Britain.

"Of course, we cannot say for certain that this number of job losses will definitely happen, as employers may choose to reduce number of hours or wages rather than cut workforce, but our analysis shows which areas of the country will take the biggest hits."

Professor Alan Winters, professor of economics at the university, added: "As MPs vote on the Withdrawal Agreement tomorrow, they will have very difficult decisions to make knowing that the livelihoods of hundreds of their constituents will rest in their hands."