'You will lose out!' German adviser says Britain will pay for 'very expensive' Brexit
BRITAIN’S withdrawal from the European single market will cost it hundreds of thousands of jobs, according to a German adviser.
German adviser says UK will lose 100k workers after Brexit
Werner Weidenfeld, a political advisor for German-United States relations for different German chancellors, said a UK move to leave the single market would be “very expensive”.
Senior Tory David Davis on Tuesday said Britain would quit the EU’s customs union and single market at the same time as formally leaving the bloc in March 2019.
Speaking to CGTN, Mr Weidenfeld said many companies would leave the UK.
“It will be very expensive, it will also cost you hundreds of thousands of working places,” he said.
Adviser Werner Weidenfeld said the UK would pay for leaving the European single market
It will be very expensive, it will also cost you hundreds of thousands of working places
“Because if you are in the company or institution which is involved in this common market regulation and now it’s missing from one day to the other, these companies will leave Great Britain.
“What about the agencies, there a lot of so-called European agencies, with a lot of working places and they can’t stay any longer in Great Britain so they move.”
In a discussion with business leaders, EU Exit Secretary Mr Davis confirmed his expectation that the Government will get the freedom to agree new trade deals around the world from the moment of departure.
His remarks have been seen as a blow to Remain campaigners who are pressing for the UK to keep as many ties with Brussels as possible after Brexit.
Mr Davis's intervention followed suggestions that the exit process could be phased in over several years to give businesses time to adjust to the new trading arrangements.
At a separate event, Chancellor Philip Hammond repeated his call for a transitional deal to avoid a "disruptive and dangerous cliff edge" in trading links with the European Union after Brexit.