World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


TWO things Boris Johnson must do now

TWO things Boris Johnson must do now to recover investment and confidence


December 13 2019

Boris Johnson faces an uphill battle to recover more than three and a half years of lost business investment and confidence, warns the CEO of one of the world’s largest independent financial advisory organizations.

The warning from Nigel Green, founder and chief executive of deVere Group, comes after Mr Johnson’s Conservative party secured an emphatic win with a pledge to ‘get Brexit done’ in the UK’s general election.

Investors welcomed the news. The markets jumped and the pound experienced its biggest rally in almost three years.

Mr Green says: “With a clear majority in the House of Commons, the grinding parliamentary Brexit deadlock that has had a stranglehold over the UK will finally come to an end.

“There is now a clear mandate for Britain to leave the EU with Mr Johnson’s deal on January 31.

“The lifting of some of the crippling uncertainty has been welcomed by the markets, the pound and business.”

He continues: “However, now that Mr Johnson has this ‘powerful mandate’, he must use the momentum and immediately begin to recover the more than three and a half lost years of business investment and confidence that the Brexit saga created.

“The Prime Minister and his new government need to do two things as a matter of urgency.

“First, they must set out firm and unequivocal assurances around a no-deal Brexit for the end of 2020. After the passing of the Withdrawal Agreement, they have a tight, 11-month deadline to secure a deal. As such, the UK could still leave the EU without a deal if trade negotiations are not concluded in a timely and successful manner.

“Another cliff-edge of no-deal Brexit would serve as another hammer blow for investment and economic growth.

“Second, Mr Johnson’s administration must actively seek to implement pro-business policies sooner rather than later to stoke enterprise and investment.”

Mr Green goes on to add: “Brexit has cost Britain many tens of billions of pounds. Brexit has inflicted reputational damage on the UK on a monumental scale, which has created unprecedented uncertainty and impacted economic and social progress.

“Now that haemorrhaging of opportunity and money must end.”

The deVere CEO concludes: “The parliamentary paralysis might have ended but the Brexit process hasn’t. Now the hard work begins.

“For Boris Johnson to maintain the election bounce, he must act quickly and decisively to keep uncertainty at bay. There is much at stake.”


© Scoop Media

World Headlines


Middle East: BCFIF Condemns Growing Pressure On Political Prisoners In Iran

The British Committee for Iran Freedom (BCFIF) strongly condemns the new sentence against the Iranian political prisoner, Mr Saeid Sangar, 47. This sentence against one of Iran’s longest imprisoned political activists follows an ongoing trend of ... More>>

UN SDG: UN Appoints Twenty Eminent Thinkers To Shed New Light On The World’s Greatest Challenges

New York, 21 January 2021 – Twenty prominent personalities, globally renowned for their intellectual leadership in economic and social fields, will form the second United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, the ... More>>

World Economic Forum: President Xi Jinping’s Speech At Davos Agenda Is Historic Opportunity For Collaboration

– Chinese President Xi Jinping called for both greater global efforts in the fight against an unprecedented public health crisis and a renewed commitment to multilateral cooperation, in a special address on Monday to business, government and civil society ... More>>

UN: Violent Attempt At US Capitol To ‘overturn’ Election, Shocking And Incendiary

A group of independent UN rights experts released ... More>>