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Latest Article: Cameron to step down after UK public votes to leave the EU
Posted by: Matt on Jun 24, 2016

By David Hughes

The vote by the UK public to exit the European Union is clearly a momentous decision with significant implications for workers and businesses in the UK, Europe and worldwide.

The UK Parliament must now decide whether or not to act upon the referendum result. Assuming it determines to do so, which will almost certainly be the case, there will be a period of transition during which the implications, details and timings of the exit will be scrutinised and negotiated. The general consensus is that this process will take at least 2 years. The outcome of these negotiations cannot be predicted with any certainty, however we will now engage with all the appropriate and relevant parties to ensure we fully assess any potential implications for our investors and for our business.

The FTSE 100 fell heavily at the opening this morning after rallying strongly over the past week in anticipation of a Remain vote, but following David Cameron’s resignation announcement and Mark Carney’s speech, the index moved back above 6000 points at 10.30am. This was in fact higher than the closing level on 15th June last week and indeed slightly higher than when the referendum date was announced on the 20th February 2016.

During his speech outside No.10 this morning Cameron stated, "I will do everything I can as Prime Minister to steady the ship over the coming weeks and months but I do not think it would be right for me to try to be the captain that steers our country to its next destination." Cameron stood strong this morning while giving this news and we should all stand strong as we embrace what is a new opportunity to develop and grow as a nation.

 

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