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« on: October 18, 2016, 03:14:21 pm »
I would wait for the uncertainty to pass first.
PROS:
1.The cheap £ will attract more tourists next summer. This will be good for the £.
That's it.
CONS:
1.UK needs 80 000 seasonal fruit and vegie pickers from eastern Europe from July to December. The locals will not do it.
Last summer the agencies could not fill the quota and it is expected that due to the exchange rate, the pickers will stay in Europe mainland countries like Germany and Scandinavia this coming summer.
Farmers will be forced to watch their produce rot and businesses will have to import foods and even beer, wine,vinegar etc.
This will cause prices to rocket and bad for the £.
2. London is the financial hub of Europe and banks will move their HQ's to the continent. One bank has already vacated taking 2 000 employees with them. Bad for the £.
So it is a gamble in my view.