Prominent Brexiteer John Redwood advised investors to avoid Britain this weekend as the country’s economy “hits the brakes”.
Before the vote Redwood advised that the “economic gains of leaving the EU will be considerable”.
But as the economy hits stormy waters this weekend he advised investors to look elsewhere – namely the European Central Bank in an article he penned titled “Look further afield as the UK hits the brakes.”
Bank of England governor Mark Carney this weekend argued that Britain’s economy would be “booming” if not for Brexit.
Speaking to Peston on Sunday he said the economy “should really be booming, but it’s just growing.
“I think we know why that’s the case, because they’re waiting to see the nature of the deal with the European Union.
“It’s the most important investment destination and [businesses] need to know transition and end state, everybody knows this, the government knows it and is working on it, UK businesses know it and the Europeans know it.”
If You Read One Speech By Theresa May This Election, Make It This
David Davis concedes Brexit withdrawal agreement will favour EU in one key way
Why “Enfeebled” Tories are set to lose next election – Michael Heseltine
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.