Boris Johnson’s decision to ask the Queen to suspend parliament has the hallmarks of a “tin-pot dictator”, the CEO of the world’s largest independent financial advisory organisation has warned.
The Prime Minister will look to prorogue parliament within days of MPs returning to work in a bid to rob MPs of any chance to stop no-deal Brexit via legislation.
Nigel Green, chief executive and founder of deVere Group, said the move inflicts “unnecessary economic damage on an already vulnerable UK economy.”
Further drag on investment and trade
“Depressingly, recession is looming for Britain and Johnson’s highly controversial tactics seriously increase the uncertainty which will further drag on investment and trade”, Green said.
“In addition, it will further batter the beleaguered pound, which reduces people’s purchasing power. Weaker sterling means imports are more expensive, with rising prices typically being passed on to consumers.”
Green added that Johnson’s move to prevent democratically elected representatives of the people doing their job “is deeply unconstitutional and has the hallmarks of a tin-pot dictator”.
He said: “Brexit has plunged Britain into an existential crisis that will last for generations.
“It has also already cost billions upon billions of pounds. Indeed, it has cost the UK economy a staggering £66bn in just under three years, according to S&P Global Ratings.
“But perhaps even worse is the haemorrhaging of opportunity and confidence in the UK that will continue far beyond the Halloween deadline.”