1 December 2022 - Brexit is a major cause of current economic instability

Beyond Currency

The Conservative Party has been in Government, either solely or in coalition, for well over a decade but have failed in to bring their values to bear on the economy of the country due to a single decision brought about in 2014 by then Prime Minister Cameron’s fear of the rise of the UK Independence Party and the rabble-rousing about the effect of their single policy, which was to cause the UK to leave the European Union. Their leader, Nigel Farage, has long since departed the UK political scene, but the havoc he wrought, lives on. As recently as yesterday, Brexit was being blamed for the current instability in the economy, which will probably last a generation. Having taken over a decade to get into the current mess, the Government has no more than two years to turn it around. Unfortunately, they have neither the expertise nor political nous to do so. The eighty seat majority that was gained in 2019 has been squandered by an incredible degree of arrogance, coupled with failure to deal effectively with either Brexit or the aftermath of the Coronavirus Pandemic. T The Bank of England’s Governor who took over from the highly effective Mark Carney around the time that the Pandemic was beginning to take hold has been unable to get to grips with the level of inflation that has brought in its wake, a level of industrial unrest not seen in this country since the eighties, and a recession that is likely to see the economy shrink by at least four per cent over the next five quarters as well as lose the Conservatives the next election. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.