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Brexit Britain’s three lost years won’t end on Halloween – De Vere

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  • 30/05/2019
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Brexit Britain’s three lost years won’t end on Halloween – De Vere
Nigel Green CEO and founder of De Vere Group has warned the ripple effects of Britain’s financial losses will last well beyond the October 31 Brexit agreement deadline.

 

Green from financial advice group De Vere highlights the factory shutdowns designed to cope with disruption from a 29 March Brexit, which slashed car production in April by 45 per cent.

It also follows Opposition leader Jeremy Corbyn’s confirmation that Labour will back a referendum on any Brexit deal.

Green said: “Brexit has thrown Britain into a profound existential crisis.

“It has cost Britain three lost years of opportunity. Brexit has almost entirely overtaken the public sphere in Britain. All of Parliament’s time and energy is vested in Brexit. It appears nothing else is getting done. And so much needs to be done.”

“Imagine what amazing social and economic progress could have been achieved if the media, political life and the civil service had been dominated by ‘best in class’ individuals and organisations building an inclusive, long-term, sustainable economic growth strategy for the last three years?

“Imagine if the industries of the future, such as fintech, blockchain and clean energy, had been developed to secure jobs and wealth creators of the next generation?

“Imagine if Britain hadn’t spent three years inflicting reputational damage upon itself on the world stage?”

 

Cost UK economy £66bn

De Vere noted that according to S&P Global Ratings, Brexit has cost Britain billions of pounds and cost the UK economy £66bn in just under three years.

Green added: “The ongoing Brexit nightmare is unlikely to end on Halloween.”

“The haemorrhaging of opportunity and money will continue far beyond the deadline.

“It is perhaps therefore unsurprising that UK and international investors in UK assets are responding to the uncertainties posed by Brexit by considering removing their wealth from the UK.”

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