In an alarming article, the Independent reports that the pound has fallen to its weakest level since the financial crisis broke out as worries persist over the UK’s economic prospects outside the EU. It highlights that Sterling’s latest selloff followed reports that Britain could lose £66 billion of tax revenues each year if the UK takes the plunge with a ‘hard Brexit’.
Source: Pound sterling falls under $1.23 after leaked papers suggest leaving single market could cost UK £66bn a year | The Independent
This crisis was predicted by those who championed ‘Remain’ but the UK media subordinated the evidence. Now the evidence is converging with reality. Theresa May is no Margaret Thatcher and will be forced to make a massive U-turn or test policies with an early general election?