In this month’s edition of the Woodbridge Flyer is an article by Luke Durrent of Lifetime Financial Solutions titled BEXIT: one year on where the weak pound is blamed on Brexit and the increase in share prices is due to increased overseas profits due to the weak pound and says that Brexit negotiations are on the back foot. Now as Woodbridge has a large portion of Remain voters, it would read in accordance with their beliefs. It is concise and well written like a lot of things in the Woodbridge Flyer. The Woodbridge Flyer is very different to the Ipswich Flyer in that it is worth reading.
The reason the pound dropped in value was because the banks offloaded a lot of the money that the government gave them through Quantitative Easing and share prices initially rose because the banks were using the money to buy them. Shares have also continued to go up due to an increase in exports because of the weak pound. As we need global exports to increase as we leave the EU, an increase in them isn’t something to be frightened about. As the weak pound is increasing them, there is no crisis here.
The article also says that the General Election was called to increase the parliamentary majority and it backfired. Actually, the General Election was called to shut up Nicola Sturgeon because her mardling on during negotiations was counter productive to what is in the best interests of this country and due to the Conservative gains in Scotland, the objective was achieved.