{"id":154910,"date":"2019-09-06T10:22:19","date_gmt":"2019-09-06T14:22:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154910"},"modified":"2019-09-06T09:56:14","modified_gmt":"2019-09-06T13:56:14","slug":"uk-election-looms-boris-johnson-and-jeremy-corbyn-both-pose-serious-threats-to-the-economy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/uk-election-looms-boris-johnson-and-jeremy-corbyn-both-pose-serious-threats-to-the-economy\/","title":{"rendered":"UK election looms: Boris Johnson and Jeremy Corbyn BOTH pose serious threats to the economy"},"content":{"rendered":"
September 6, 2019<\/div>
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By George Prior<\/strong><\/p>\n

A UK election is almost certainly on the horizon – and domestic and global investors should revise their portfolios accordingly, warns the boss of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The warning from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, comes as the government announces that a fresh vote on an early election has been scheduled for Monday just before Parliament is due to be suspended from next week until 14 October.<\/p>\n

Mr Green affirms: \u201cWith the UK\u2019s Brexit\u2013driven political crisis escalating, it\u2019s almost certain that there will be a general election in order to try and end the deadlock. The only question is whether it will take place before or after the Brexit deadline day of 31 October.<\/p>\n

\u201cWhen it happens, it will be an election that gives voters the stark choice between Johnson\u2019s no-deal Brexit, which would likely negatively impact the UK economy for several years, or Jeremy Corbyn\u2019s Labour party, which promises an agenda of anti-business, high-tax, low-profit policies.<\/p>\n

\u201cDepressingly those are the options facing the British electorate in a time of national crisis.\u201d<\/p>

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He continues: \u201cAgainst the somewhat bleak outlook, UK domestic investors and global investors with exposure to UK assets should revise their portfolios accordingly.<\/p>\n

\u201cThey should remain invested and ensure their portfolios are truly diversified across asset classes, sectors and regions.\u201d<\/p>\n

Mr Green goes on to say: \u201cIt\u2019s clear no-deal is deeply unpopular in parliament.\u00a0 As such, Mr Johnson needs to stop wasting time, stop his bully boy tactics, and start with real diplomacy to get negotiations reopened.<\/p>\n

\u201cDespite, in effect, losing one card, the PM still has a \u2018strong hand\u2019 in fact it could be getting stronger \u2013 not due to his strategy, but because Germany is on the brink of recession and they are Europe\u2019s powerhouse economy. The last thing they need is a no-deal and be unable to trade effectively as they do now with the UK, especially as the wider EU and global economies are slowing.\u201d<\/p>\n

The deVere CEO concludes: \u201cAn election in itself will create further uncertainty for the UK economy and the pound \u2013 and whoever wins, Mr Johnson or Mr Corbyn, the drama will be far from over for differing reasons.<\/p>\n

\u201cGeopolitical factors of this magnitude impact investor returns and steps should be taken to mitigate risks and take advantage of the opportunities when they are presented.\u2019<\/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 A UK election is almost certainly on the horizon – and domestic and global investors should revise their portfolios accordingly, warns the boss of one of the world\u2019s largest independent financial advisory organizations. The warning from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, comes as […]<\/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-154910","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154910","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=154910"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154910\/revisions"}],"predecessor-version":[{"id":154911,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154910\/revisions\/154911"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}