Investors: UK Government Failing At Brexit Talks

The majority of investors in the United Kingdom believe that the UK government is doing a bad job at achieving a Brexit deal for financial services and nearly half believe that the UK will become poorer once it leaves the European Union.

According to the Brexit Wealth Index, 59 percent of the investors in total feel that the government is failing at the Brexit talks and does not “have their back.”

A research that was conducted by the Enterprise Investment Scheme Association revealed that only below half (44 percent) do not believe that the withdrawal of Britain from the bloc will make them any wealthier.

The said findings were released as the government published 24 technical notices today, including a notice on financial services. The notices were aimed to advise the public and businesses over the contingency plans for a no deal Brexit scenario.

Mark Brownridge, the director general of Enterprise Investment Scheme Association (EISA), stated: “It is clear that from this research that British investors feel that Brexit has not made them wealthier to date, and they do not believe that it will in the future either.”

He added: “Moreover, they feel that our government does not have their back, and in fact, is contributing to the negative sentiment surrounding Brexit.

He continued: “The fact that so many investors feel this way is going to have a knock-on impact on the rest of the country and the economy.”

However, the survey revealed that a third of the investors think that there will be more chances to invest in Small and Medium Enterprises (SMEs) after Brexit. The said survey was based on 1,122 responses.

According to a third of respondents to the survey, a Brexit dividend will make the United Kingdom richer after it withdraws from the European Union in March 2019,

Brownridge added: “There is some positivity, with many feeling that there will be great opportunities for wealth creation, entrepreneurship, and investment into SMEs in a post-Brexit Britain.”

He continued: “We must remain optimistic yet cautious, we need to ensure that investors have the confidence to continue to look to UK SMEs as a viable investment, and also ensure that there is enough capital for investors to reinvest back into UK businesses.”