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    London Mayor Urges May to Stay in Single Market Amid Job Losses’ Concerns

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    MOSCOW (Sputnik) - UK Prime Minister Theresa May should "put the national interest ahead of her own" and focus on remaining in the European Single Market and the Customs Union in the divorce talks between London and Brussels, Mayor of the UK capital Sadiq Khan said on Thursday.

    "I urge the Prime Minister to start putting the national interest ahead of her own narrow political interests, and her country ahead of her party … The government must change course immediately and accept that staying within the Single Market and the customs union is the only way to protect jobs and growth in London and across the UK," Khan said in a statement.

    The mayor urged the UK government to intensify dialogue with local business in order to properly inform and prepare it for Brexit.

    "Sadly, the proposals to protect this trade [with the European Union] in goods – put forward by the Prime Minister in the government’s most recent white paper – are complex, untested and needlessly expensive for our businesses. But even more concerning is the fact that the government’s latest approach completely fails to meet the needs of our leading service sectors – a concern shared by business leaders in London and around the country," Khan underlined.

    READ MORE: Bank of England Hikes Interest Rates to Highest Level Since 2009 Economic Crisis

    In July, the UK government published its long-anticipated White Paper on the United Kingdom's relations with the European Union after Brexit. In the document, London outlined its plans to leave the EU Single Market and the Customs Union, ending free movement and the jurisdiction of the European Court of Justice in the United Kingdom. The UK government announced its plans to introduce a special customs procedure with the European Union.

    READ MORE: China's Waiting to See What the UK Can Get Out of Brexit — Economist

    The City of London Corporation said last month that the United Kingdom might lose several thousand jobs in the financial sector due to the withdrawal from the European Union. Some 3,500 to 12,000 jobs might disappear in the UK market as many financial companies are relocating their business to the EU member states, according to the authorities.

    READ MORE: Breakdown in Trust Between UK, EU Would Be 'Geo-Strategic Mistake' — London

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    European single market, Customs Union, European Union, United Kingdom
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