Maitland Political Insight – Brexit and what it means
Here we are. Britain has voted to leave the EU, in a vote which has divided the country down the middle. The Prime Minister has announced his resignation and a band of Labour MPs are calling for Jeremy Corbyn to be sacked. We live in extraordinary times.
Where should we start?
Well, firstly it is important to recognise that the current state of politics and the markets is based on the shock of the result and not necessarily the fundamentals of our situation. Tony Blair once said “the Kaleidoscope has been shaken, the pieces are in flux” and never have these words appeared so relevant.
There is no doubt that Brexit – even though it remains two or three years away – presents business with significant challenges. When the markets open again next Monday morning we do not know if they will continue to show volatility or straighten out to a position of stability.
We do not know when George Osborne will announce his departure from the Treasury, or who will be our next Prime Minister. Nor who will be sent to Brussels to handle our renegotiations. Nor indeed which Minister will be sent to China, the USA and all over the world setting up these heralded free trade deals. And, crucially, we do not know whether we will retain access to the single market, or at what cost.
In this pithy guide, we provide guidance on possible outcomes and what this result means for business. Maitland Political will continue to be on hand to help businesses of all different shapes and sizes navigate through the choppy waters ahead, making sure their concerns are heard by governments and thought leaders alike.
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