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Could Brexit be Guy Fawkes in disguise?

Immediately on hearing the news, market impacts were felt.   The shares in FTSE dropped and the pound’s value started to improve against the dollar and the euro.  Uncertainty in the political climate is always going to be bad for the markets and this decision now provides us with more questions than answers.

Theresa May is a supporter of remaining in the EU but since she has become Prime Minister she has fought hard to make sure the will of the British people is carried through following the result of the referendum – indicating the public wanted a Brexit.  

This latest High Court ruling could have major ramifications. Consider that parliament objects to Article 50 being triggered.  We know that the whole of the Labour Party and SNP will fight for a new referendum and a good many of the other MP’s may have their own agendas.  The public could be furious.  Brexiteers have been passionate in their support  – and look at what happened in the lead up to the EU Referendum.

This could be just the start of an uprising and could in fact be just the completion of the Guy Fawkes master plan in blowing up the Houses of Parliament.

What does this mean financially for expats?  Good advice is even more important than ever.  Considering what your needs are now and will be in the future.  We might see a spike in the pound’s value and that may be a time to exchange a portion of Currency.  Expats in Spain may be excited about the fact that Brexit might not actually happen but in reality, I cannot see that happening.  In this world though, you can never say never; could you imagine Donald Trump being presidential candidate just two years ago?

 

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

French QROPS can help protect from currency fluctuations

Given the financial and political situation in Britain and Europe right now it is likely that more and more British people will look to move their pensions out of Britain, with a QROPS in France possibly the most popular potential option.

Over recent weeks the value of Sterling has taken a significant plunge resulting in significant rises in living costs for those reliant on the currency for most or all of their spending needs.

Inevitably, this means that many have had to reconsider their wealth management and financial planning strategies. Against this backdrop it is easy to see why experts are predicting a spike in the numbers of people taking advantage of a .

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Expat Pension Concerns Cause Dwindling Number of Brits in EU

Its time to say goodbyeThe number of British pensioners living as expats in the European Union (EU) fell from 468,790 in 2017 to 462,680 in 2018, according to figures based on data derived from the Department for Work and Pensions.

It is the first time in more than a decade that there has been a decline in the numbers of British pensioners abroad and it is thought that Brexit and the uncertain future of expat pensions are the major factors behind the decline.

Although the draft withdrawal agreement seems to have provided some security for Brits abroad concerned about their expat pension and legal residency rights, this is only assured until 2020,

Read More

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