The Brexit Pill Has Not Choked Us as Expected

A month has passed since Britain voted to leave the European Union

by Roger Bootle

It has all happened so quickly. Last Friday marked four weeks since the momentous day, June 24, when we discovered that the UK had voted to leave the EU. How do things look now?

Before the event there were widespread forecasts of mayhem in the financial markets, but alarmist views have proved unjustified. True, the pound initially took a battering, but it has since stabilised about 9pc below its level before the referendum vote.

Although this fall of sterling will cause problems and losses to some people – including holiday-makers going abroad this summer – it will be of net benefit to the economy overall.

Continue Reading at…