The pound will flatline on the outcome of latest parliamentary Brexit vote, affirms the CEO of one of the world’s largest independent financial advisory organisations.
DeVere Group’s Nigel Green is speaking out after this evening’s latest parliamentary vote.
Mr Green comments: “MPs have failed to find a way out of the UK’s Brexit crisis, rejecting a series of alternative strategies in the House of Commons for a second time.
“Sterling and UK assets can be expected to flatline now that there is a parliamentary consensus on how to move forward with Brexit.
“The UK economy would have benefitted if there had have been a clear majority of any of the four motions selected by the Speaker, John Bercow. There would have been a likely boost as household spending and investment that had been on the sidelines is unleashed.”
“MPs are failing UK business and the legacy of this failure will last a generation.”
He continues: “With so many question marks hanging over the Brexit process,
It’s essential for those who are serious about safeguarding, creating and growing their wealth to ensure that their portfolios are properly diversified. Diversification is the investor’s best weapon to mitigate risk and capitalise on the opportunities as they arise.”
The deVere CEO concludes: “MPs must find a way forward. Failure to do so is too high.”