With Theresa May promising to push for the ‘freest possible trade’, many Britons are concerned about the financial impact of Brexit. From a consumer perspective, there is some good news. Incomes are rising and employment is at an all-time high. House prices have yet to fall far from their pre-referendum levels. While stocks and shares initially fell sharply on the news, both the FTSE 100 and FTSE 250 have recovered ground.

The fall in the value of the pound is good news for exporters as their products become cheaper for foreign buyers; the devaluation acting as an enticing discount.

The Bank of England’s Monetary Policy Committee has introduced a rate cut to 0.25% and has indicated that further stimulus measures could continue to be applied if necessary to steady the economy. The Chancellor, Philip Hammond, has made it clear that many austerity measures will be relaxed to stimulate the economy.

Many commentators conclude that the impact so far has been rather less pronounced than some had predicted.

There will no doubt continue to be good and bad economic news in the coming months as events unfold. In the short term, it’s widely accepted that there will be shocks in currency, shares and property markets ahead. But for now, there is no reason to panic, and every reason to adopt a ‘wait and see’ stance. 


As might be expected, economic confidence reached a low with the UK losing its triple A rating. In the days following the vote the pound fell to its lowest level against the dollar in more than 30 years.

This will mean that imported goods including fuel are likely to begin to rise in cost. On the plus side, our exports will be cheaper and should prove more attractive to foreign buyers.

The Governor of the Bank of England, Mark Carney, has said that he will be monitoring the effects on the economy closely, and the Monetary Policy Committee have already cut interest rates to 0.25%.


Most experts agree that this is a time to be cautious. Whilst we face a major phase of economic realignment, there are many reasons for optimism. The UK economy was growing well before the referendum and could bounce back once more of the important details regarding our future trading relations with Europe become clear.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.

Clifford Osborne are Independent Financial Advisors (IFA) based in Eastbourne, East Sussex, offering pension planning advicemortgage advice and more. You can read our VoucherFor reviews here. Our clients often come from Uckfield, Lewes, Brighton, Tunbridge Wells, Hastings, Bexhill, Newhaven, Seaford, Crowborough and further afield.