The probability of a hard Brexit is very much higher now than it was immediately after the referendum, despite a rumoured eleventh hour softening of May's tone ahead of Wednesday's invocation of Article 50.
UK commercial property values increased by 2.4% over the first six months of 2016, according to the IPD All Property Index. Yet these gains were eradicated in the immediate aftermath of the EU referendum — the index fell by 2.8% in July alone.
The UK has voted to leave the European Union, which will trigger two years or more of negotiations once Westminster formally notifies Brussels of its intention to secede. However, the referendum result is advisory rather than mandatory and there are significant constitutional issues that must be resolved before such notice can be given. As a result, UK and EU politics will have a significant impact on financial markets in the short to medium term.
More questions than answers
With 50 days until the Referendum, James Hedley, investment director, hosted a capacity event entitled, ‘Brexit – Exploring Myths and Facts’, in Liverpool.
A debate on the referendum of the UK's continued membership of the EU was the first event in our partnership with Spectator magazine.
Rathbones and The Spectator last night hosted an entertaining and informative debate on the EU referendum at The London Palladium – ‘Should Britain leave the European Union?’
Investment Perspectives: What is fact and what is fiction? That question has never been more pertinent as the UK weighs up the arguments ahead of the In/Out referendum on 23 June.
Our report specifically looks to address five myths around key areas of the Brexit debate: immigration, trade, financials, public finance, and foreign investment.
Myth 5: foreign investors will withdraw from the UK if it leaves the EU.