All you need to know about...

Brexit

We need to talk about Brexit

Brexit. It’s a term you’ve undoubtedly heard a lot over the last 12 months or so, and it’s something you’ll be hearing a lot more of in the next few years. The sooner you and your business prepare for that eventuality, the better off you’ll be in the long run.

Regional voting results

England

53.4%
Voted to leave the EU

Scotland

38%
Voted to leave the EU

Northern Ireland

44.2%
Voted to leave the EU

Wales

52.5%
Voted to leave the EU

Impact across the UK

 

Wales overwhelmingly voted to leave the EU. However, it remains to be seen how Wales will fare once EU funding is pulled. Since 2000, Wales has had £4bn in structural funding from the EU, according the Welsh Government. In the wake of the referendum, the UK Government announced that a Brexit administration ‘will not automatically be able to match’ the levels of funding currently received from Brussels.

Scotland and Northern Ireland, on the other hand, voted in favour of remaining within the EU. In both of these countries, it is entirely possible that the referendum’s outcome could result in calls for independence referendums in order to cut ties with the UK.

Nicola Sturgeon, First Minister of Scotland, has been vocal about her desire to see another Scottish vote for independence, while Sinn Fein’s performance in Northern Ireland’s 2017 election appears to indicate a growing desire for Northern Ireland to be reunified with the Republic of Ireland.

The Scottish referendum in 2014 saw the majority (55.3%) of voters choose to remain part of the UK, proving that many are reluctant to become definitively severed from the UK Government. 

Prepared for Brexit?

With Brexit just around the corner, it has never been more important to understand your financial needs and goals. Book a Financial Health Check today, and let us help you plan for a post-Brexit environment.