MSE News: Martin's reaction to Brexit
Former_MSE_Steve_1
Former MSE 79 Posts
MoneySavingExpert.com founder Martin Lewis has posted a short homemade video with his initial reaction to the referendum result...
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'Martin's reaction to Brexit – what will it mean for the economy, mortgages, savings and more?'
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'Martin's reaction to Brexit – what will it mean for the economy, mortgages, savings and more?'
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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I've just watched it.
He looks kn*ckered and rambles a bit after an all-nighter;)
Basic message is:
we don't know what will happen next
interest rates unlikely to rise in short term
effect on house prices unknown
savings probably still safe under £75k FSCS limit
pound buys less currency so holidays will cost more
imports will cost more so BOE will probably print more money to avoid stagnating economy
lots of financial pain, but we don't know how severe
above all, we must all work together - KEEP CALM & CARRY ON:cool:
Oh, and that the people leading us will still be leading us. Which has already been overtaken by events!
What will happen to our right to work and own property here? What about our children's university fees?
Any thoughts?
I know it's a big concern to you but to the vast majority of the UK population it's a side issue that won't be given any priority and will eventually be dealt with at some point in the exit negotiations. No help to you, and you'll be living with uncertainty for quite a while, but the rest of us have more pressing concerns to worry about.
Wow thanks for your empathy.
Can you get yourselves UK citizenship? Possibly as a second nationality? It will take some time and cost some money but it would remove a lot of uncertainty for you and your family.
https://www.gov.uk/becoming-a-british-citizen/check-if-you-can-apply
Sure I could but it's really expensive and I can't really afford it. Probably will for my son though as he was born here and considers himself English, and it's a bit cheaper for under-18s.
.. and for those of us who can't watch video at home (slow BB and no speakers).