{"id":161710,"date":"2019-12-13T10:30:49","date_gmt":"2019-12-13T15:30:49","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161710"},"modified":"2019-12-13T08:12:47","modified_gmt":"2019-12-13T13:12:47","slug":"two-things-boris-johnson-must-do-now-to-recover-investment-and-confidence","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/two-things-boris-johnson-must-do-now-to-recover-investment-and-confidence\/","title":{"rendered":"TWO things Boris Johnson must do now to recover investment and confidence"},"content":{"rendered":"
December 13, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Boris Johnson faces an uphill battle to recover more than three and a half years of lost business investment and confidence, warns the CEO 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, comes after Mr Johnson\u2019s Conservative party secured an emphatic win with a pledge to \u2018get Brexit done\u2019 in the UK\u2019s general election.<\/p>\n

Investors welcomed the news. The markets jumped and the pound experienced its biggest rally in almost three years.<\/p>\n

Mr Green says: \u201cWith a clear majority in the House of Commons, the grinding parliamentary Brexit deadlock that has had a stranglehold over the UK will finally come to an end.<\/p>\n

\u201cThere is now a clear mandate for Britain to leave the EU with Mr Johnson\u2019s deal on January 31.<\/p>

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\u201cThe lifting of some of the crippling uncertainty has been welcomed by the markets, the pound and business.\u201d<\/p>\n

He continues: \u201cHowever, now that Mr Johnson has this \u2018powerful mandate\u2019, he must use the momentum and immediately begin to recover the more than three and a half lost years of business investment and confidence that the Brexit saga created.<\/p>\n

\u201cThe Prime Minister and his new government need to do two things as a matter of urgency.<\/p>\n

\u201cFirst, they must set out firm and unequivocal assurances around a no-deal Brexit for the end of 2020. After the passing of the Withdrawal Agreement, they have a tight, 11-month deadline to secure a deal. As such, the UK could still leave the EU without a deal if trade negotiations are not concluded in a timely and successful manner.<\/p>\n

\u201cAnother cliff-edge of no-deal Brexit would serve as another hammer blow for investment and economic growth.<\/p>\n

\u201cSecond, Mr Johnson\u2019s administration must actively seek to implement pro-business policies sooner rather than later to stoke enterprise and investment.\u201d<\/p>\n

Mr Green goes on to add: \u201cBrexit has cost Britain many tens of billions of pounds. Brexit has inflicted reputational damage on the UK on a monumental scale, which has created unprecedented uncertainty and impacted economic and social progress.<\/p>\n

\u201cNow that haemorrhaging of opportunity and money must end.\u201d<\/p>\n

The deVere CEO concludes: \u201cThe parliamentary paralysis might have ended but the Brexit process hasn\u2019t.\u00a0 Now the hard work begins.<\/p>\n

\u201cFor Boris Johnson to maintain the election bounce, he must act quickly and decisively to keep uncertainty at bay. There is much at stake.\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 faces an uphill battle to recover more than three and a half years of lost business investment and confidence, warns the CEO of one of the world\u2019s largest independent financial advisory organizations. The warning from Nigel Green, founder and chief executive of deVere Group, comes after Mr Johnson\u2019s Conservative party […]<\/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-161710","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161710","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=161710"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161710\/revisions"}],"predecessor-version":[{"id":161711,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161710\/revisions\/161711"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}