So the UK has voted to leave the EU. It remains to be seen what this means for the economy, both local and national. A drop in the value of the pound will mean imported materials will go up in price, but a UK-wide slow-down in the economy might mean that labour costs go down to even out the balance. Will the Euro also drop in value, against non-EU currencies? Will there be a rush for immigration or emigration? House prices may be affected, and interest rates may rise, throwing debt-equity calculations into a spin for a while. Business plans will need to be reviewed in every business in the country, whether exporting, importing or not.
Will exiting the EU lead to a reduction in red-tape, or just a change from where the red tape comes?
There are sure to be calls for another Scottish referendum on independence. What might that mean for Scotland’s economy?
We’re in uncharted waters and whichever way we look at it, uncertainty lies. If there’s on thing that investors don’t like it is uncertainty so whatever happens, let’s hope it all settles down quickly.
Democracy has had its way and we’re all stuck with the result so let’s hope the promised prosperity outside the EU isn’t just a mirage!