Wyn Thomas - Axys Investment Management

Weekly Market Commentary 1st March 2019

THERESA MAY TO GIVE MP’S THE CHANCE TO EXTEND ARTICLE 50

This week we witnessed a major change in direction from both the government and opposition for their respective Brexit policies. Theresa May walked back yet another commitment and conceded that there should be an extension to article 50. This has been inevitable for some time as, quite apart from all the clowning about in parliament, there is actually a lot of legislation to be passed into law before leaving, regardless of the terms. We had already passed the point where that could have been accomplished so it was just a matter of when the Prime Minister would acknowledge that reality. While this move has garnered a lot of attention it hasn’t changed anything, there will still be nothing the parties agree on at the end of the period, except the option to delay will no longer be available. Read more…