Brexit: What on earth's going on?

Uncertainty has resulted in 2% less growth

clock
Ed Smith, head of asset allocation research at Rathbones
Image:

Ed Smith, head of asset allocation research at Rathbones

Theresa May has asked the European Union (EU) for a delay in the UK's departure until 30 June, with EU officials indicating they would only grant an extension on the grounds of Parliament agreeing a deal.

Before making her direct televised appeal to the British public on Wednesday evening, May met with all opposition leaders, hoping to gather last-minute cross-party support for her deal. Jeremy Corbyn walked out after finding Chuka Umunna, a recent defector from the Labour Party and spokesman for the centrist Independent Group, had been invited. By refusing to ask for a longer extension in case her deal is rejected again, May has kept the possibility of a no-deal Brexit on 29 March alive. Should she fail to get the backing she needs, May would face a stark choice between a hard Brexit or ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Industry Voice: PIMCO Secular Outlook

Industry Voice: PIMCO Secular Outlook

Reaching for Resilience

PIMCO
clock 28 June 2022 • 2 min read
Market Movers Blog: S&P 500 slides into bear market

Market Movers Blog: Russia defaults on foreign debt - reports

Latest news and analysis

Investment Week
clock 27 June 2022 • 1 min read
David Kimberley is an investment trusts writer at Kepler & Partners

Opportunity amid madness: Valuations more attractive in wake of panic-driven price drops

Buy opportunities have arisen

David Kimberley
clock 21 June 2022 • 4 min read
Trustpilot