Theresa May’s Brexit speech – what does it mean for you?

EU Logo Brexit 

Theresa May finally delivered her twelve-point Brexit plan for taking the United Kingdom (UK) out of the European Union (EU). In a detailed speech, the Prime Minister, set out her vision for a ‘managed Brexit’. She would seek ‘a new, positive and constructive partnership between Britain and the European Union’.

 

 

Theresa May’s key Brexit points.

  • The United Kingdom will leave the single market.
  • The UK will leave the EU customs union.
  • She, will look to negotiate transitional arrangements to allow UK business to adapt to a new regulatory and legislative framework.
  • Workers’ rights will be maintained and protected.
  • The Prime Minister expressed a wish to protect the rights of European Union workers currently in the UK.
  • The UK will look to secure a phased transitional deal to avoid a ‘cliff edge’ scenario, which may bring a threat to economic stability.
  • The UK will aim for a new ‘bold and ambitious’ trade agreement with the EU and new free trade deals globally.
  • The Government will put the final deal to a vote in both the House of Commons and House of Lords before it is adopted.
  • The Prime Minister says the UK may have to ‘change its economic model’ if it does not secure a good deal from the EU.

 

What does this mean for you?

The pound rose and the stock markets fell initial at the news that Parliament would get to vote. Her speech provided some clues as to what Brexit will mean for the United Kingdom.

Much will depend on how negotiations progress over the coming months and years. The economic environment remains uncertain for individuals and businesses. The need for independent advice remains as great as ever.

Peter Anstee, at Anstee & Co. said “Theresa Mays, speech has provided enough pointers for advisers at Anstee & Co to start to develop appropriate strategies for our clients. Business owners and people soon to retire will be especially in need of advice.

How Anstee & Co can help.

If you would like to review your investments with one of our financial adviser the please contact us. The initial meeting is free of charge. We have offices at Kettering, Stamford and London. Our financial advisers make use of meeting rooms in Wellingborough, Northampton, Bedford and Towcester. We can arrange home visits in Northamptonshire, Lincolnshire, Bedfordshire and Warwickshire. We can also look at retirement and retirement planning.

2018-02-21T15:51:55+00:00 January 17th, 2017|Market, News|