London must have access to foreign talent after Brexit, David Davis warned

Warned: David Davis
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Pippa Crerar13 July 2017
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London business chiefs and politicians warned David Davis today that Brexit “trade-offs” would be a “false and damaging” choice for the capital.

Senior figures including Sadiq Khan wrote to the Brexit Secretary to underline that London needs access both to European markets and international talent to continue to thrive.

The letter marks the launch of a hard-hitting report on Brexit from the Centre for London think tank which warns of “considerable” risks to the capital.

It argues that if the capital is going to maintain its competitiveness from outside the EU, it will need continued access to international talent and a trade deal that reflects the importance of service sector exports.

The co-signatories, including infrastructure expert Lord Adonis and Tory peer Baroness Wheatcroft, urged ministers to commit to continued membership of the single market and customs union during a transition period, and for a final deal to resemble the status quo.

They also backed calls for London’s Mayor to get more powers to help it tackle long-term challenges. Key among these would be property taxes.

The report concluded: “London faces both short- and long-term risks. Falling out of the Single Market without a comprehensive trade deal or adequate transitional arrangements would be catastrophic for many London businesses, as would the sudden loss of EU workers.

“But the longer-term risk is more subtle but no less serious — the erosion of the creative edge, liveability and variety that distinguishes London from so many other cities that can offer well-equipped offices and international airports.”

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