London Mayor Says Brexit Has Cost UK over $178 Billion So Far

Britain's departure from the European Union has reduced the size of its economy by 6% so far - an annual cost of 140 billion pounds ($178 billion) - London mayor Sadiq Khan said on Thursday, with the shortfall seen reaching 10% by 2035.

Khan, a member of the opposition Labour Party, which voted against Brexit in a 2016 referendum, based his statement on a report he commissioned from economic consultants Cambridge Econometrics, who estimated how fast the economy would have grown if Britain had voted to stay in the EU, Reuters reported.