Since Brexit, around 10% of UK banking assets and 40,000 jobs have shifted to EU hubs like Paris, Dublin, and Warsaw, as the EU excluded financial services from the trade deal to maximise economic pressure.
Following the April 2nd “Liberation Day” announcement, financial markets plunged as the S&P 500, NASDAQ, and Brent crude dropped over 10%, while gold prices soared to record highs amid rising volatility and a weakening U.S. dollar.
Since Bretton Woods in 1944, Western economic policy has favored reducing trade barriers for growth. The world’s largest economy imposing broad tariffs marks a major shift with deep global market implications.
Some people blame global forces, for others, the economic slump seen since last summer can only be attributed to the decisions of the current Government. One thing that is clear, is that the economy has slowed down since autumn, and there is set to be an inflationary shock in April, as the impact of the budget takes effect.
