{"id":158225,"date":"2019-10-23T09:30:11","date_gmt":"2019-10-23T13:30:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=158225"},"modified":"2019-10-23T07:44:18","modified_gmt":"2019-10-23T11:44:18","slug":"uks-most-uncertain-election-looms-two-reasons-why-you-need-to-election-proof-your-finances-now","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/uks-most-uncertain-election-looms-two-reasons-why-you-need-to-election-proof-your-finances-now\/","title":{"rendered":"UK\u2019s most uncertain election looms: TWO REASONS why you need to election-proof your finances now"},"content":{"rendered":"
October 23, 2019<\/div>
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By George Prior<\/strong><\/p>\n

A UK general election \u2013 in essence, a second Brexit referendum – is inevitably on the way, and if you are serious about protecting your money and assets you need to take action now.<\/p>\n

This is the warning from the CEO and founder of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

deVere Group\u2019s Nigel Green is speaking out after UK Prime Minister Boris Johnson \u2018paused\u2019 his Brexit bill Tuesday evening after lawmakers rejected his plans to have it pass through the House of Commons in just three days.<\/p>\n

Mr Green comments: \u201cThe 27 EU member states are meeting to discuss another extension, which could be granted by Friday. They are likely to push back the deadline to January on the advoce of Donald Tusk, the President of the European Council.<\/p>\n

\u201cMr Johnson will then call for a general election. With this extension in place, the opposition Labour Party will support a snap election, making it happen.<\/p>

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\u201cThe electorate is extremely volatile and there\u2019s never been a more uncertain general election.\u00a0 Small shifts will move the needle considerably.\u201d<\/p>\n

He continues: \u201cWith an uncertain UK general election inevitably on the way in the near future, if you are serious about protecting your money and assets you need to take action now.<\/p>\n

\u201cThere are two key reasons why investors here should election-proof your finances.<\/p>\n

\u201cFirst, Labour leader and leftist firebrand Jeremy Corbyn might become the UK\u2019s next Prime Minister.<\/p>\n

\u201cHis anti-business, high tax and low-profit policies can be expected spook the financial markets, damage long-term sustainable growth of the world\u2019s fifth largest economy, which will have global repercussions.<\/p>\n

\u201cIt will also more pressure on UK financial assets, and lead to a significant sell-off of the pound.<\/p>\n

\u201cSecond, the election could result in a hung parliament, meaning more of the same indefinite uncertainty, deliberation and chaos engulfing the internationally-important UK economy.<\/p>\n

Boris Johnson might be returned as PM but without a majority.<\/p>\n

\u201cThe Brexit Party could eat into the Conservative vote as they will claim Mr Johnson did not deliver Brexit by October 31- something on which he staked his whole premiership.<\/p>\n

\u201cSimilarly, the Remain vote could be split between Labour, the Liberal Democrats, the Greens and the Scottish National Party.\u201d<\/p>\n

He adds: \u201cBoth of these general election outcomes, the current unprecedented uncertainty would continue and\/or intensify, further undermining confidence in the UK economy and the pound.\u201d<\/p>\n

Earlier this week, Mr Nigel noted: \u201cWealth, jobs and opportunity-generating businesses \u2013 both in the UK and internationally- are crying out for certainty.<\/p>\n

\u201cBrexit uncertainty is seriously denting business investment and confidence in the UK \u2013 and the fallout of this has cost Britain three and a half years of lost opportunity and many tens of billions of pounds.<\/p>\n

\u201cIt could take a decade or so to recover, even if that recovery of certainty starts now.<\/p>\n

\u201cBritain is losing its edge in a competitive global economy with the Brexit deadlock and politicking.\u00a0 It is likely to underperform against peers for many years to come.\u201d<\/p>\n

The deVere founder and CEO concludes: \u201cFor more than a year, people and companies around the world have been making plans for a hard Brexit.\u00a0 But the looming general election is perhaps an even more concerning development.<\/p>\n

\u201cIt is perhaps unsurprising that UK and international investors in UK assets are responding to the uncertainties posed by Brexit by reducing their exposure to the UK.<\/p>\n

\u201cThe best way to position yourself to protect and build your wealth and assets is to remain invested, to take advantage of the upswing when it happens, and to be diversified across asset classes, sectors, currencies and regions.\u201d<\/p>\n

About:<\/em><\/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 A UK general election \u2013 in essence, a second Brexit referendum – is inevitably on the way, and if you are serious about protecting your money and assets you need to take action now. This is the warning from the CEO and founder of one of the world\u2019s largest independent financial advisory […]<\/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-158225","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158225","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=158225"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158225\/revisions"}],"predecessor-version":[{"id":158226,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158225\/revisions\/158226"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=158225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=158225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=158225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}