London Mayor Says Hard Brexit Will Have no Winners

The number one priority for the U.K. government regarding the Brexit negotiations is to come up with a plan that benefits everyone, Mayor of London Sadiq Khan has told CNBC.

“The problem with a ‘hard Brexit’ is there aren’t any winners. A ‘hard Brexit’ is no good for London and the U.K., and is no good for the EU,” Khan told CNBC’s Tania Bryer.

“What’s really important is access to a single market. What’s really important is the ability to carry on attracting talent. What’s really important is a relation to financial jobs with passport financial services.”

A so-called “hard Brexit” would be where the U.K. loses access to the EU’s single market and defaults back to World Trade Organization rules. In a “soft Brexit” scenario, the U.K. would retain some form of membership to the single market.

Speaking at the annual switching on of Oxford Street’s Christmas lights, Khan — who is a member of the U.K.’s opposition Labour party —said during these negotiations it was important for the U.K. capital to also have “a seat around the table.”

via CNBC

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