Speaking to the London Assembly on Wednesday, Mr Khan said: “The Prime Minister has announced that she will officially notify the European Union that the UK’s leaving on the 29th of March, next Wednesday.
“While I’m very optimistic about London’s future we should be under no illusion about the scale of the challenge that lies ahead and the potential consequences of a badly managed so-called hard Brexit.
“I take these challenges very seriously. I’ve published my response to the Government’s Brexit White Paper last week.”
LONDON ASSEMBLY • GETTY
Sadiq Khan claimed the Government was putting Britain’s economic prosperity at risk
Mr Khan suggested the PM’s approach heading into official talks with Brussels bigwigs could result in the UK being stuck with World Trade Organisation rules.
“I’ve been clear I believe the Government’s negotiating position puts London’s and Britain’s economic prosperity at risk,” he said.
“The Prime Minister’s assertion that no deal for Britain is better than a bad deal for Britain is not necessarily true.
“No deal would mean us crashing out of the EU and rely on World Trade Organisation rules. The very worst scenario leading to tariff barriers and non-tariff barriers.”
I believe the Government’s negotiating position puts London’s and Britain’s economic prosperity at risk
The Labour politician said while some major companies had made major investments in London, others were planning to abandon the UK after it leaves the bloc.
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Mr Khan said: “While we have seen recent high-profile investments in London by companies including Google, Apple and Facebook, we know some financial business such as HBC, UBS, and JP Morgan, are already planning to move staff from London to other European cities.
“And more are making plans to do so. We’ve seen in the media overnight reports of Morgan Stanley and Goldman Sachs moving jobs.
“The Government needs to rule out, as a priority, its hard Brexit no deal approach.”
Brexit: Results of how the UK voted Mon, March 20, 2017
Much of the North East of the United Kingdom voted to leave the European Union including Sunderland, Gateshead, Darlington, Durham, Hartlepool, Middlesbrough, Stockton, Redcar and Cleveland, North Tyneside and South Tyneside, and Northumberland
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GREAT YARMOUTH: The town of Great Yarmouth on the East Coast of England voted by 72% to leave the European Union.
The London Mayor has previously suggested a lack of an interim EU trade deal could cause “colossal damage” to Britain.
“I believe that the Government’s unrealistic expectation of having trade negotiations concluded within two years of triggering Article 50 – with no plan for extending this period – is compounding uncertainty and risks, causing unnecessary damage to our economy,” he said.
“Many experts, including the former EU ambassador Sir Ivan Rogers, believe that concluding negotiations within this time frame is impossible.
“If neither an interim or final deal is in place at the end of the two years the Government has allowed then the UK would crash out of Europe and we would suffer very significant economic detriment.”