{"id":156272,"date":"2019-09-27T09:00:29","date_gmt":"2019-09-27T13:00:29","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=156272"},"modified":"2019-09-27T07:05:59","modified_gmt":"2019-09-27T11:05:59","slug":"uk-prime-ministers-secret-brexit-plans-time-to-hard-brexit-proof-investments","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/uk-prime-ministers-secret-brexit-plans-time-to-hard-brexit-proof-investments\/","title":{"rendered":"UK Prime Minister’s secret Brexit plans: Time to hard-Brexit proof investments"},"content":{"rendered":"
September 27, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Boris Johnson\u2019s reported secret plans to circumnavigate parliament and deliver Brexit means you should now consider hard Brexit-proofing your finances, warns the CEO of the world\u2019s largest independent financial advisory organization.<\/p>\n

The warning from deVere Group\u2019s founder and chief executive, Nigel Green, comes as it is reported by City AM on Friday that the UK government believes it can get Brexit over the line on October 31\u00a0as the Article 50 deadline \u2013 European legislation \u2013 overrides any British attempt to stop it \u2013 in the form of the UK parliament\u2019s Benn Act.<\/p>\n

In addition, Sir John Major, the former Prime Minister, has warned that Boris Johnson could use \u2018political chicanery\u2019 to try to force No Deal Brexit at the end of October.<\/p>\n

He said he worried the privy council\u2019s powers could be abused to suspend the law designed to stop the UK crashing out.<\/p>\n

Mr Green notes: \u201cUnder the Benn Act, Boris Johnson must ask the EU for an extension to Article 50 if no Brexit deal wins a pass through parliament by 19 October.<\/p>

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\u201cThe PM has said he would comply with this requirement \u2013 while at the same time saying the UK will definitely leave the EU on October 31.<\/p>\n

\u201cThis sounds contradictory.\u00a0 And maybe the reason he is saying this is his reported secret plan to use EU law to override British law and stick to the EU-imposed deadline of Halloween to deliver Brexit.\u201d<\/p>\n

He continues: \u201cMr Johnson seems determined to get Brexit done come what may \u2013 including allegedly lying to the Queen and unlawfully suspending parliament.<\/p>\n

\u201cSo it will come as no surprise to many that he would also ride roughshod over British processes and somewhat ironically invoke European ones \u2013 to get it over the line.<\/p>\n

\u201cThis raises the spectre considerably of a hard Brexit.\u201d<\/p>\n

He goes on to say: \u201cWith the pound likely to be further pummelled by crashing out, with UK financial assets \u2013 perhaps with the exception of real estate – taking a hit, and with the impact on international exports and global implications for international trade, it\u2019s imperative that investors revise their portfolios.<\/p>\n

\u201cThey need to ensure that they are properly diversified to mitigate the risks and are best-positioned to seize the important buying opportunities to grow their wealth.\u201d<\/p>\n

Mr Green concludes: \u201cIt can be expected that a growing number of UK and global investors will move their assets overseas as Britain stumbles towards a hard Brexit.\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

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By George Prior Boris Johnson\u2019s reported secret plans to circumnavigate parliament and deliver Brexit means you should now consider hard Brexit-proofing your finances, warns the CEO of the world\u2019s largest independent financial advisory organization. The warning from deVere Group\u2019s founder and chief executive, Nigel Green, comes as it is reported by City AM on Friday […]<\/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-156272","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156272","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=156272"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156272\/revisions"}],"predecessor-version":[{"id":156273,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156272\/revisions\/156273"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=156272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=156272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=156272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}