Looking beyond the immediate market shock, James Klempster (pictured) and Glyn Owen weigh up what the result of the EU referendum could mean for investors over the longer term
1. Nothing changes immediately in that the UK remains a member of the EU until it triggers the formal exit process, following which it remains a member for at least two years. 2. The UK faces an extended period of uncertainty, however, as it renegotiates trade agreements, legislation and regulations arising from its membership of the EU. The uncertainty is likely to result in reduced confidence and spending by businesses and, to a lesser extent, consumers. This means growth will be lower in the next two years than previously expected - perhaps by as much as 1% per year. 3. The UK also...
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