Rushanara Ali MP this evening voted against triggering Article 50 and beginning the process of leaving the European Union due to the risk it poses to jobs in Bethnal Green and Bow and across the country.

Price Water House Coopers suggests that if the UK leaves the Single Market between 70,000 and 100,000 jobs in the financial sector could be lost. Following the Prime Minster’s speech at Lancaster House two weeks ago where she laid out her negotiating strategy, HSBC confirmed that they will move 1,000 jobs out of London, as did UBS.

Speaking in the historic debate on the European Union (Notification of Withdrawal) Bill Rushanara said:

“As a passionate European, a proud Londoner and someone who comes from a background in which Britain was a welcoming home to me and my family, and a constituency where almost 70% of the electorate voted to remain, it goes without saying that this is a bill that I wish I didn’t have to vote on.”

“I don’t agree with the Prime Minster’s plan to take us out of the Single Market and Custom’s Union because the effects will be dangerous and damaging to our economy and that is well documented when it comes to the city of London and Canary Wharf. My constituency boarders on these two financial sectors where some 70,000 – 100,000 jobs are at risk. And it’s not just the jobs of financiers at the top end of those institutions that are at risk – it’s the receptions, it’s the caters, it’s all the people who serve the city and Canary Wharf.

“It’s because of the damage that the move away from the Single Market will do to my constituents and also up and down the country to our economy but also to our rights that I can’t support triggering Article 50.”

“I do not believe it’s in our national interest, as a country that is supposed to be outwards looking and internationalist and I do not believe it is in the interest of the next generation.”