EU Brexit vote causes shares and pound to fall

The consequences of a vote for Britain to leave the European Union seems to have an immediate economic effect. The value of the pound has fallen to its lowest since 1985 and the FTSE’s fall was its biggest since 2008. Stock markets around the world are also falling. The housebuilding sector has suffered a drop in share value and there could be serious implications for other industries.

The fall in the value of the pound would help the exporting of goods but there would be an increased cost of imports which would need to be taken into consideration. The UK’s future economic growth will now depend on the trade agreements that can be negotiated.

In the current economic uncertainty, your business may be adversely affected and a free consultation with one of our experienced practitioners may be appropriate. Contact us.