Michael Ellington

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    Brexiteers hope to rebalance the economy towards exports, but this risks proving a naïve myth

Brexiteers hope to rebalance the economy towards exports, but this risks proving a naïve myth

Nine months after the vote, the UK has triggered Article 50. Michael Ellington and Costas Milas explain why we should expect persistent exchange rate volatility and higher borrowing costs once the formal notification is sent to the EU. In this uncertain environment, the likelihood of rebalancing the economy towards export-oriented sectors may prove to be another pro-Brexit myth.

Theresa May […]

Brexit and the Gordian knot of the UK productivity puzzle

Economic uncertainty following the EU referendum, as well as additional political uncertainty stemming from the recent High Court decision to allow Parliament to vote on the deal, might delay the government’s preferred timing for triggering Article 50 by March 2017. There is therefore potential for fuelling investment uncertainty and delaying a steady recovery in UK productivity, explain Michael Ellington […]