Labour peer says short-term effects should be negligible but delivered warning about direction of Brexit
Lord Andrew Adonis, the Labour peer and former transport secretary, said that Brexit will have no effect on UK businesses next year, and that UK travel companies should “keep calm and carry on”.
However, he went on to deliver a darker warning over Brexit, adding that over the medium-term there would be less market access and less trade, meaning less prosperity and the “trashing of your businesses”.
During a keynote speech at the Advantage Business Symposium in London, Lord Adonis said: “The prime minister never says that we will be more prosperous after Brexit.”
He added that if we did leave the European Union it was likely that the UK would end up with an ESTA-style visa system and ID cards, which would be reciprocated by the EU.
It was also likely that freedom of movement would be replaced with an income and skills test, which would set minimum income for migrants at about £30,000. Again this would be reciprocated by the EU.
Speaking about how he thought Brexit would play out, Lord Adonis predicted that we would end up staying in the EU after a second referendum.