{"id":154616,"date":"2019-09-02T10:30:40","date_gmt":"2019-09-02T14:30:40","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154616"},"modified":"2019-09-02T09:15:57","modified_gmt":"2019-09-02T13:15:57","slug":"boris-johnsons-poker-playing-puts-the-uk-economy-at-stake","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/boris-johnsons-poker-playing-puts-the-uk-economy-at-stake\/","title":{"rendered":"Boris Johnson’s poker playing puts the UK economy at stake"},"content":{"rendered":"
September 2, 2019<\/div>
\r\n<\/div><\/div>

By George Prior<\/strong><\/p>\n

Boris Johnson\u2019s Brexit strategy is nothing more than a high-risk gamble for the UK economy, warns the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The stark warning from Nigel Green, the chief executive of deVere Group, comes as it is revealed that several billion pounds\u00a0have\u00a0been pulled out of UK equity funds since Mr Johnson became Prime Minister amid growing fears of a no-deal Brexit.<\/p>\n

Mr Green says: \u201cThere\u2019s an ongoing and growing shift out of the UK and into the EU by international fund managers as Boris Johnson\u2019s political manoeuvres continue to increase the likelihood of Britain leaving the EU with no-deal.<\/p>\n

\u201cTens of billions have already outflowed from UK equities since the referendum – and the haemorrhaging in this area doesn\u2019t show any sign of stopping.<\/p>\n

\u201cIn addition, Brexit has already cost the UK economy more than \u00a366bn in under three years, according to S&P Global Ratings.\u201d<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

He continues: \u201cBritain\u2019s global reputation as a pro-business, stable, secure jurisdiction to invest in and do business has taken a hit since the referendum in 2016. It\u2019s now fading fast as the Prime Minister ramps up his \u2018do or die\u2019 approach to Brexit as parliament returns.<\/p>\n

\u201cOn Monday Mr Johnson threatened to sack\u00a0lawmakers from his own party who fail to support his government in the battle over planned legislation designed to block a no-deal Brexit.<\/p>\n

\u201cAlso this week, the first adverts will be released as part of Boris Johnson\u2019s new \u00a3100million campaign to get ready for Brexit.<\/p>\n

\u201cThe biggest public information campaign since World War Two will run across TV, social media and billboards for the next two months.\u201d<\/p>\n

Mr Green goes on to say: \u201cAll these measures are, of course, tactics; they\u2019re a very public display of defiance to the EU to pressurise them to reopen negotiations and\/or give concessions to the UK.<\/p>\n

\u201cBut this so-called \u2018strategy\u2019 is nothing more than a high-risk gamble. Of course, it might work at the eleventh hour. But if it fails, the consequences for the UK economy will be serious and far-reaching.<\/p>\n

\u201cI\u2019m not sure that any political leader should be playing poker with their nation\u2019s economy at stake.\u201d<\/p>\n

The deVere CEO concludes: \u201cNow parliament has returned from summer recess, it must put in as much work into getting a deal as preparing for no-deal.\u201d<\/p>\n

About:<\/strong><\/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<\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Boris Johnson\u2019s Brexit strategy is nothing more than a high-risk gamble for the UK economy, warns the CEO of one of the world\u2019s largest independent financial advisory organizations. The stark warning from Nigel Green, the chief executive of deVere Group, comes as it is revealed that several billion pounds\u00a0have\u00a0been pulled out of […]<\/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-154616","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154616","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=154616"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154616\/revisions"}],"predecessor-version":[{"id":154617,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154616\/revisions\/154617"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}