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Nearly 6,000 job losses in Brussels if no-deal Brexit

16:15 01/02/2019

A hard Brexit – the UK leaving the European Union without an exit deal – will lead to the loss of several thousand jobs in Brussels, according to two separate studies. The studies were commissioned by international trade secretary Cécile Jodogne (Défi).

One study was conducted by KU Leuven and the other by L’Institut Wallon d’Etudes et de Statistiques (Iwes). KU Leuven’s estimate was less pessimistic; they estimate that around 4,000 jobs will be lost. But Iwes says the figure is likely to be closer to 6,000.

Direct job losses would be related to EU workers and Brussels-based firms that deal with EU regulations. Indirectly, companies that export to the UK will be hit hard by a no-deal Brexit. Last autumn, Iwes concluded that about 26,000 jobs in all of Belgium would be at risk by a hard Brexit.

Jodogne is traveling to London on 13 February to continue the federal government’s campaign to woo businesses to Brussels. The campaign launched in early December and includes seminars led by Belgian experts in three sectors: Banking and insurance, pharmaceuticals and audio-visual concerns.

Written by Lisa Bradshaw