London mayor says all bets are off if UK exits EU without sealing an agreement with Brussels
London mayor Sadiq Khan has said a no-deal Brexit could cripple the capital鈥檚 property and construction businesses.
Speaking at the Homes for Londoners conference earlier this week, Khan said there was little City Hall could do to mitigate the impact on housing associations of a no-deal Brexit.
鈥淲e鈥檙e already supporting [housing associations]. I announced a 拢200m support package over the summer, but the reality is if there鈥檚 a no-deal Brexit all deals are off.
鈥淓veryone in London, developers, construction sector, anyone in the economy, is worried.鈥�
He added: 鈥淣othing City Hall can do will mitigate for a no-deal Brexit. We鈥檒l do what we can鈥hings like the mayor鈥檚 construction academy, adult education, working with precision manufacturers and so on, to try to get London ready, but let me be frank, if there鈥檚 a no-deal Brexit, there鈥檚 not much City Hall can do.鈥�
Construction activity stagnated in August with uncertainty around Brexit causing a lull in the amount of new work hitting the market.
According to data from the Office for National Statistics, released yesterday, the amount of new work up for grabs fell away by 0.2% during the month compared to July.
The UK is due to leave the EU at the end of this month but has so far failed to agree a deal with Brussels.
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