Germany issued shock Brexit warning: 14,000 jobs at risk

London, Jan. 11 (Petra)– A study by accounting firm Deloitte predicted economic turmoil for Germany’s famed car industry.

It found a hard Brexit involving tariffs and a lasting devaluation of the pound could cause thousands of job losses.

The study, published today, said job losses would be particularly high if Britain loses access to the single market and customs union.

Thomas Schiller of Deloitte said: “Trade barriers emerging in the course of Brexit such as tariffs or regulation would considerably harm supply chains and raise the costs for suppliers.” Deloitte said 14,000 jobs at automotive suppliers could be lost with their sales also shrinking.

Source: Jordan News Agency