According to the latest London investment survey, it would not significantly increase the spending of the British consumers if it succeeded in reaching an agreement with the European Union on the conditions of termination of British membership of the European Union (Brexit).
According to a new study by the London Research Department of the Bank of America-Merrill Lynch Global Financial Services Group on Monday, a major relative of the British does not trust the Brexit agreement.
As to the question of how they are judged, 48 percent of respondents said it was unlikely or very unlikely, and only 29 percent considered it likely or very likely to agree with the EU before the March expected exit.
As to how the agreement would affect consumer willingness, only 12 per cent said it was likely or very likely that in this case it would be more likely to buy a larger value for purchase, such as a car or television device.
33 percent of respondents would not change their consumption plans if the British government succeeded in reaching an agreement with the European Union on the conditions of Brexit, and 26 percent said it was likely or very likely to even reduce their consumption expenditure in this case.
The investigation has also shown that the British are quite pessimistic about their own future financial position.
When asked how Brexit is affecting their personal finances, 22 percent of respondents said that they trusted in a minor or significant improvement, 42 percent of them, however, had a smaller or more significant deterioration in their financial position.
Even more, 44 percent thought that the overall economy of the UK economy would deteriorate somewhat or seriously in the next 12 months, with only 27 per cent hoping for a smaller or greater improvement.
The latest forecasts from macroeconomic economies also support this pessimism.
One of the most prestigious London-based financial and economic analysts in Oxford Economics’s mining comprehensive study said its model calculations show that in the case of Brexit without an agreement, UK GDP would fall by 2.1% by the end of 2020, by 2.7% by 2023 the level at which the British economy could reach a comprehensive Brexit agreement and a transitional period after the end of British membership of the EU could reach this two years.
Some city views suggest that Brexit, without agreement, may even cause a recession in the UK economy.
According to the latest study by The London UK Analyst in London, The UK in a Changing Europe, focusing mainly on the economic and trade relations of the European Union and the UK, only the Bank of England – the British central bank’s liquidity injection into the British banking system prevented the collapse of the sector.
However, according to the House, there is now no institution that would be ready to defend the trading system without Brexit’s agreement, and in this situation it is clearly possible – though not inevitable – to create a serious recession in the British economy.