We don’t know what Brexit is yet – it’s Brexit, apparently – but you can’t ignore the fifth-largest economy in the world. The Europeans will take us right to the last minute – as we saw with Greece, they do not negotiate – so I expect this to be a very painful couple of years but we’ll get through it and I suspect that by the time we’re finished it won’t look terribly different to what it is today.
I don’t buy the whole idea that ‘businesses don’t like uncertainty’. What I find is that any business will work up contingency plans and they tend to shuffle their way through these things and make the best of whatever situation presents itself. I think we’re prone to catastrophising about pretty much everything when it comes to economics and money and markets.
There’s always a massive crash just round the corner. Go on YouTube and type in ‘coming collapse of the US dollar’ and you’ll find posts from 2016 saying ‘the government’s coming for your stuff, buy a rifle and bottled water’ and then you’ll find the same kind of posts for 2015, ’14, ’13, ’12 and on. So I think we’ll find a way through this.
The government we have are as qualified as anybody to do this. We’ve just got to hope we’ve got some very smart civil servants who will guide them through this. It looks like they’re going to absorb all the European legislation into UK legislation and gradually repeal it and that could take decades.