October 26, 2018

Brexit latest: Millennials will lose £108,000 under no-deal

By Priya Kantaria

A millennial in the UK will lose up to £108,000 in earnings under a worst-case no-deal Brexit over a 30-year career, reports campaign group Our Future, Our Choice.

The report compares the loss to three times more than tuition fees and twice the deposit needed for a first-time buyer on a house.

Under a Canada-style free trade agreement for Brexit, the report claims young Brits will lose between £30,000 and £72,000.

A Norway-style European Economic Area agreement of Brexit would mean lost income of between £7,000 and £32,000.

In a foreword to the report, former UK Prime Minister John Major encouraged a second referendum on Brexit, known as the People’s Vote.

He said: “Since June 2016, there are nearly 2 million more young people eligible to vote. It is only right that they have a say in their nation’s future.”

Lord Sugar: Boris and Gove should be imprisoned for Brexit lies

The House of Lords met yesterday and spoke about how prepared the UK is for Brexit and discussed the People’s Vote.

Lord Alan Sugar said he believed the British public was “misled in forming their decision to vote to leave” and concluded that they were “entitled to a vote on the final negotiated terms”.

Comparing politics to business he said: “Those people who will be responsible for putting this country into five to 10 years of post-Brexit turmoil based on lies – such as Boris Johnson and Michael Gove for the £350m lie on the red bus – should be imprisoned, or at least prosecuted.”

Mayor of London talks with EU

The mayor of London Sadiq Khan is meeting the EU’s chief negotiator Michel Barnier in Brussels today.

He told the BBC he will let Barnier know that a bad Brexit deal or a no-deal will be bad for Europe as well as for London and the UK.

He said: “These jobs that may leave our country I think are not going to go to Paris, Brussels Frankfurt, Madrid. They are going to New York, Singapore and Hong Kong.”

Khan, a former Labour MP, said he supports the idea of a second referendum on the terms of Brexit.

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