Have you been reading the same old Brexit news over and over? With the clock counting down to zero in less than a month, we at FX News thought it might be interesting to do our own unique countdown. Here’s a very clear outline of seven important numbers of Brexit worth remembering.
7 numbers that will go down in British history
- 500 – According to a report by the Centre for European Reform, Brexit is costing the British economy £500 million per week, which makes for a £64 billion price tag since the 2016 referendum. This is almost double the cost of the Afghanistan war.
- 100 – When May took her ‘deal’ to parliament, 634 MPs listened. A staggering 432 of them outright rejected the deal on the grounds that it was “economic suicide for the UK.” The rejections counted for more than double those that were in favor, which hasn’t happened in British parliament in almost 100 years.
- 48 – The percentage of people who actually bothered to make a vote of ‘Remain’ was 48%. Not counting those who didn’t get round to voting on the day, the next time you take a busy bus or train in the UK, take a back seat and look down the aisle. Everybody sitting on the left side of the bus wants to stay EU citizens, on average.
- 40 – A ‘No-Deal’ Brexit would cause heavy tariffs on processed food and meat, which would affect almost one-third of the UK’s food products. Reports are circling, sourcing the British Retail Consortium, which is saying that certain food items could increase in price by as much as 40%, although the Bank of England’s governor Mark Carney says only 10%.
- 24 – On June 23, 2016, the fate of 66 million people living in the UK was decided in a referendum. 24% (17 million) voted to leave the EU. The next time you see 4 Brits eating lunch together, only one of them actually voted for Brexit, on average.
- 10 – A total of 3 Conservative MPs and 7 Labour MPs have quit since Parliament and the EU squeezed Theresa May into a no-win situation. These first 10 are leading the opening wave of resignations that some fear will reach as high as 30 before the day of Brexit arrives.
So far it’s been lots of doom and gloom. Here’s the odd one out from the other Brexit news by numbers.
- 2 – The UK’s last chance? The EU has considered telling Theresa May that if she can’t pass her Brexit deal in Parliament and wants to delay the exit, the UK will have to stay in the bloc for another 2 years.
Make or break for GBP on Brexit news
So there you have it. From 500 to 2. Seven numbers that will have paved the path to Brexit history. Traders of GBP might be wise to have their trading accounts at the ready over the next few weeks. Positive political news tends to have a supportive effect on the nation’s currency. Likewise, bad news can send an economy and currency into a downward spiral. With Brexit, your TV might well be the most powerful GBP trading indicator right now, so keep it switched on. Which brings me to one last number.
One. That’s how many people I guarantee will be sitting at the edge of their seats come March 29. Me! I invite you to do the same. History is seen as long periods of very little happening, punctuated by days that will forever change the lives of millions. Brexit will go down in history. Let’s just hope it doesn’t take GBP with it. But if it does, a well-timed ‘Sell’ order might end up being the most profitable trade of the year.
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