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  • 06.27.16

The latest news on Brexit: the fallout continues

Things continue to get worse for the United Kingdom, which last Thursday voted to leave the European Union. The latest:

• Twenty percent of 1,000 businesses polled in the U.K. are considering moving some of their operations outside of the U.K., reports the Guardian.

• The British pound continues to fall, down to $1.31 against the dollar—its lowest in over 31 years.

• 5% of U.K. businesses said they are already planning to make workers redundant.

• U.K. estate agent Foxtons share plunged 17% after announcing Brexit will depress London property values for the first time in decades.

• Momentum is building for a second referendum with Parliament perhaps stepping in to block a Brexit.

• The Brexit camp has already rolled back on two main Leave promises—funding the NHS with an extra £350 million a week and reducing immigration—that were the cornerstone of their campaigns for a Brexit, reports the Mirror.

• A popular theory is going around that David Cameron has had the last laugh, condemning Boris Johnson to failure:

• The Labour party is in crisis, with at least 19 members of the party resigning from the shadow cabinet, and counting, reports the Guardian. The party members say Labour leader Jeremy Corbyn has lost authority due to his lack of strong campaigning for Britain to remain in the EU.

• A Leave MP has told a Sky News reporter the Leave campaign had no plans in place to implement after a vote for Brexit.

• A snap poll has revealed that a majority of people in Scotland now support independence from the United Kingdom.

• The EU’s commissioner for economic affairs has told Bloomberg that it will not push the European Union into a recession:

[Image: Bill Smith]MG

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