London To Lose 70,000 Jobs Over BREXIT

Hamilton Nwosa
Writer

Ad

Trump Blasts Nobel Committee for ‘Choosing Politics Over Peace’ After Prize Snub

By Obinna Uballa The United States government has blasted the Norwegian Nobel Committee for what it described as a politically motivated decision after President Donald Trump was overlooked for the 2024 Nobel Peace Prize. In a strongly worded statement posted early Friday on X (formerly Twitter), White House Communications Director Steven Cheung accused the committee…

Federalism and Electoral Integrity: Bridging the Gap Between Nigeria and the USA

By Sonny Iroche In the tapestry of modern democracies, few threads are as intricate as federalism, the delicate balance of power between central authority and subnational entities. Nigeria, Africa’s most populous nation and a federal republic since its independence in 1960, has long modeled its governance after the United States, the cradle of modern federalism.…

Senate Issues Ultimatum to Finance Ministry to Submit 2024 Budget Performance Report

By Abiola Olawale The Nigerian Senate has handed the Finance Ministry a two-week deadline to deliver a detailed performance report on the 2024 budget. The New Diplomat reports that the directive emerged from a high-stakes closed-door meeting at the National Assembly between the Senate Committee on Finance and President Bola Tinubu's economic team. Led by…

Ad

“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.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp