Jonathan Fryer

Writer, Lecturer, Broadcaster and Liberal Democrat Politician

Posts Tagged ‘universities’

Brexodus Has Begun

Posted by jonathanfryer on Tuesday, 21st November, 2017

BrexodusWhen a slim majority of the UK electorate voted in June last year in favour of leaving the European Union it became inevitable that Britain would lose the two European agencies that it has been hosting, the European Medicines Agency (EMA) and the European Banking Agency (EBA). Sure enough, yesterday it was announced that the EMA will move to Amsterdam and the EBA to Paris. The number of staff involved are 900 for the EMA and 150 for the EBA, but the knock-on effect of the departure of well-paid employees on service industries in London will be significant. This is only the start of Brexodus — the departure of institutions and staff who are in Britain (notably London) because it is currently an EU member state, a situation that is scheduled to end in March 2019. Already banks in particular have been making preparations to shift operations to Frankfurt, Paris, Dublin, Luxembourg and so on. That change is likely to accelerate now that Michel Barnier has confirmed that if Britain leaves the single market (as both the Tory and Labour leadership are determined will happen) then banks and financial institutions will lose their passporting rights to operate throughout the EU. This is a catastrophic blow to the City of London; over a comparatively short period London is now likely to lose its status as the unmatched financial capital of Europe. And it is not only the fnancial sector that is going to suffer. Universities currently employ a lot of other EU nationals, but many of them have started to make plans to leave. Similarly, the NHS depends quite heavily on EU migrant labour, but applications from other EU countries to work in the NHS have fallen by 96%. Farmers are sounding alarm bells about rotting food because of the likely shortfall in EU migrant workers to harvest the crops. Theresa May argues that this is what the British public voted for, but as Brexodus speeds up during 2018 and the negative effects of a looming Brexit are exacerbated, surely then the British electorate should be asked “Is this really what you want?” Shamefully, the Prime Minister and her Brexiteer Cabinet Ministers currently will not even countenance the proposition, and equally shamefully the Labour “Opposition” under Jeremy Corbyn is just going along with the madness, which can only lead to a shrinking economy and diminished political importance for Britain. So much for “taking back control”.

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