{"id":144640,"date":"2019-03-29T09:30:04","date_gmt":"2019-03-29T13:30:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144640"},"modified":"2019-03-29T07:07:36","modified_gmt":"2019-03-29T11:07:36","slug":"brexit-vote-the-uks-economic-future-is-really-now-in-the-hands-of-theresa-mays-successor","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/brexit-vote-the-uks-economic-future-is-really-now-in-the-hands-of-theresa-mays-successor\/","title":{"rendered":"Brexit vote: The UK\u2019s economic future is really now in the hands of Theresa May\u2019s successor"},"content":{"rendered":"
March 29, 2019<\/div>
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By George Prior<\/strong><\/em><\/p>\n

Sterling will rally and the economy will have a growth spurt should UK Prime Minister Theresa May\u2019s Brexit deal pass Friday \u2013 but this could be reversed if Boris Johnson becomes PM.<\/p>\n

This is the warning from Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial advisory organizations, on the day the UK was originally meant to have officially left the EU.<\/p>\n

His comments come ahead of UK politicians voting on Friday on the withdrawal agreement – the legally binding document that sets out the terms of the UK’s departure from the EU.\u00a0 In a bid to end the impasse, the government has split the original deal into two parts: the withdrawal agreement and the political declaration.<\/p>\n

Nigel Green notes: \u201cMPs will vote today on whether to accept the Prime Minister\u2019s version of Brexit, face crashing out without a deal on 12 April, a much longer extension, or a general election. No-one \u2013 really no-one \u2013 wants this uncertainty to continue.<\/p>\n

\u201cSince she vowed to quit, if has she gathered some more support in parliament, there is seemingly a gradual shift towards Mrs May\u2019s plan as it will allow the UK to leave in, supposedly, a more orderly manner.\u201d<\/p>

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He continues: \u201cShould the PM\u2019s deal pass on Friday, sterling will rally and the economy will have a growth spurt as pent-up household spending and investment kicks in.<\/p>\n

\u201cDomestic-focused small and mid-cap stocks would outperform large caps in a stock market rally.\u201d<\/p>\n

He goes on to say: \u201cHowever, the economic future of the UK now really depends on Theresa May\u2019s successor.<\/p>\n

\u201cBoris Johnson, who is now also widely expected to be backed by arch Brexiteer Jacob Rees-Mogg amongst others in the leadership contest, is seen as the likely winner.\u00a0 He would push for a much harder Brexit.\u00a0 This can be expected to create more uncertainty, spook markets, and negatively impact sterling and UK financial assets.\u201d<\/p>\n

The deVere CEO concludes: \u201cWhatever happens in the UK parliament with today\u2019s vote, or on Monday\u2019s, many question marks remain. We don\u2019t know who the successor, the one who will shape the UK\u2019s future relationship with the EU and global trading partners, will be, and what their approach will look like.<\/p>\n

\u201cThis is why to mitigate risks and to take advantage of the potential opportunities the volatility is creating, investors must ensure their portfolios are properly diversified.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Sterling will rally and the economy will have a growth spurt should UK Prime Minister Theresa May\u2019s Brexit deal pass Friday \u2013 but this could be reversed if Boris Johnson becomes PM. This is the warning from Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-144640","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=144640"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144640\/revisions"}],"predecessor-version":[{"id":144641,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144640\/revisions\/144641"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}