Everybody will benefit from Brexit long-term, British American Business Association tells Boom Bust
The Bank of England has cut its forecast for UK growth over the next two years, warning that a no-deal Brexit would hit the economy and trigger a further drop in the value of the pound.
If Brexit goes smoothly, the bank expects it will have to increase interest rates to balance out a potential price rise in goods and services in order to keep inflation at 2 percent.
RT’s Boom Bust welcomes Hilary Fordwich of the British American Business Association to find out what benefits there may be from a bumpy Brexit.
She explains that, in the short-term, there are some firms, and industries like tourism, that will be and already are benefitting from a weak pound. “Overall, imports and anything domestic are benefitting,” says Fordwich, adding that there are certainly some companies that would suffer.
“In the long-run everybody is going to benefit from Brexit. The general public, everybody will benefit,” she notes.
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