Goodbye London - The cost of Brexit before we have even left.
The madness that is Brexit:
Brexiteers still claim its Operation Fear, nothing has changed ...
EU27 ministers choose Paris as the new location for the European Banking Authority (EBA) and Amsterdam for the European Medicines Agency (EMA).
As Brexit hurtles towards an end game which is unlikely to satisfy anyone, it is important to acknowledge that decisions have already been taken which will impact the UK economy, jobs and services. The scale of the changes about to hit the UK are of such a magnitude that many are still choosing to ignore, challenge or face the consequences of the 2016 referendum. Operation Fear? - well many Brexit decisions have already been taken by UK business unwillingly to wait any longer for these shambolic negotiations to be concluded. Some have already been actioned. Old news maybe, but EU ministers have voted on where to move the European Medicines Agency (EMA), which currently employs over 900 people in London. Amsterdam will be the new host of the agency, which will move after Britain leaves the EU. The EMA is responsible for the scientific evaluation, supervision and safety monitoring of all medicines marketed in the EU's single market. It's not just the jobs that will move but the agency attracts an estimated 36,000 scientists, pharmaceutical representatives bringing high spending visitors to conferences and events in London each year. Britain not only loses the Agency but must pay for moving it from London after Brexit and the bill has soared to a staggering £520m.
The UK will also be losing the European Banking Authority, currently based in London, after Brexit. Its new host city will be Paris.
Former Brexit Secretary David Davis said in April that London could keep the two EU agencies after it left the bloc, but as with many other promises made by the Brexiteeer Davis it turned out to be wrong. The Liberal Democrats said the huge sum for relocating the agency - considered a jewel in the EU's crown, because it attracts businesses and experts - was among the most "crazy" aspects of withdrawal.
"One of the ludicrous ironies of Brexit is we could end up having to pay large amounts of money to lose highly skilled jobs and research capacity from the UK," said Lib Dem Brexit spokesman Tom Brake.MP." "It really is that crazy. Rather than £350m a week extra for the NHS as the Brexiteers promised, Brexit is making us poorer every day."
The EU insisted that Britain must foot the bill for moving the EMA, because it is a direct consequence of the decision to leave the union. Brussels has put the cost of relocation at €582.5m (£520m), with 60 per cent of the costs the result of a botched rental contract for the EMA's Canary Wharf offices. The agency failed to negotiate a "break clause", which means EU taxpayers are locked into a rent contract for its offices until June 30, 2039!
Making Britain pay up should be part of "the negotiations on the withdrawal agreement", which will restart at the end of the month, the EU has said.
Tom Brake added: "There are around 40 EU agencies of which Britain may no longer be a part, but the government has absolutely no plan and no clue for what arrangements we will have in all these different areas post their extreme Brexit".
Chris Leslie MP, a pro-EU Labour MP, said: "This is yet another price to be paid for the Government's aim of a hard, destructive Brexit"."Not only are hundreds of good jobs being shipped out of London thanks to the decision to leave the single market, but UK taxpayers are going to be left on the hook for the relocation costs too".
Acknowledgment for extracts to Europe World, Reuters, The Independent.
Join us to March against Brexit on Saturday October 20th.
Let's send Theresa May a clear message: the people must have the final say on the Brexit deal, and the opportunity to stay in the EU.
WHEN: October 20, 2018 at 12pm - 3pm
WHERE: TBC, London, UK
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