The Mayor of London Sadiq Khan has re-echoed his desire to have the UK continue to access a single market even after Brexit.
Khan pointed to the growing inflation which has increased from 0.5 to 2.9 since the referendum and translated to high costs of living for Londoners and the United Kingdom at large as the main reason why efforts should be made to stay in the single market post-Brexit.
“The fall of the value of the pound has increased the cost of all businesses who have subsequently pinched customers by raising prices or reducing the size of their product while keeping prices the same,” Khan lamented during the mayor’s questions time last Thursday at the City hall
“The continued drop in the value of the pound since the referendum has contributed to inflation rising from 0.5% to 2.9% far above the Bank Of England’s target of 2%.”
“Businesses across London and the rest of UK rely on a supply chain that stretches through Europe and around the world.”
“ A strong pound provides unfettered access to group success across Europe having controversial driving down cost for consumers in recent years.”
“The UK now ranks top for inflation rate amongst the G7. If UK businesses face a new barrier to trade with the EU, this is only likely to further increase the cost of prices, which is why I’m advocating for the UK to remain a member of the single market.”
“I am embarking on a programme of delivering a genuine form of hope for Londoners and I am edging businesses to pay people fair wages to days work by signing up to the London Premium wage.”
Prime Minister Theresa May has stood firm on her desire to have the UK pull out of the single market and has shown no sign of bending in her quest for Brexit.
When grilled recently on how she was going to pull off capping off immigrant and still have access to free trade amongst EU members her response was more of hope rather than expectations.
“We will be out of the EU in 2019 as we have said but we are very confident that we will get a good deal that will benefit us and all EU member countries,” she told the daily mail online recently
The UK has been a front liner and played a huge role in forming the single market trade agreement that allows European Union countries to trade goods, services, capital and people freely amongst member countries.
That is why there is no limit to the number of Europeans living here in the UK or limitations on the number of British citizens who leave in Spain.
All 28 members enjoys the benefits except Norway, Switzerland, Ice land and Liechtenstein, Kosovo, Turkey, Ukraine, Belarus, Macedonia, Gibraltar, Albania, Armenia, Russian Federation and the Vatican City state who are all European countries but not part of the EU.