Quote:
Originally Posted by Damien
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The trouble is - like the GPs, they say one thing to the Conservative Party Conference and another to everyone else. Which is correct?
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Commonwealth fears grow over impact of Brexit vote. Commonwealth nations have commissioned a report which highlights four issues, based mainly on the weakened pound.
- Commonwealth Exports. Weakened Pound threatens Commonwealth exports to the UK. Six states, in particular — Botswana, Belize, Seychelles, Mauritius, Bangladesh and Sri Lanka — might suffer “a big hit” from a fall in the pound because the UK accounts for more than 10 per cent of their total exports. Imports from Canada, South Africa, India and Sri Lanka might also be affected.
- Commonwealth Tourism. Sterling's devaluation could impact British tourism among member states. Some 60 per cent of Commonwealth nations are small states and tourism is the main income earner for these countries. For most, the UK is in the top three countries from which tourists travel.
- Remittances to Commonwealth Countries. The falling pound might reduce remittances from Commonwealth citizens living in Britain back to their home countries. In 2012, migrants in the UK sent $12bn of remittances to families back home.
- Reduced EU aid to the Commonwealth. The UK contributes 10% of its aid budget to EU institutions and this is at risk of reduction after Britain leaves the EU.
https://www.ft.com/content/ec5a4cfe-...7-e7ada1d123b1