The New Normal

Well it looks like it’s happening then. Boris Johnson has finally gotten his way and the UK will be heading to the polls for the third time in five years in what could prove to be a vain attempt to break the current political deadlock around Brexit (and almost everything else) and deliver a majority government capable of advancing a legislative agenda.

It seems this will push the Brexit date back to at least 31st January 2020. Although in theory it is possible for the UK to leave the EU before this date if the UK ratified the Brexit deal, the chances of this happening seem very slim.

Parliament will be suspended for election campaigning next week and it seems as if new MPs will be sworn in on 16th December, before parliament breaks for Christmas on the 19th December (I do sometimes wonder when parliament actually does any work!).

As such, for the moment, I would consider 31st January the new de-facto Brexit date, unless…

Unless many things really.

  1. Unless we end up with another hung parliament unable to pass the Brexit deal ahead of the deadline
  2. Unless we vote in a remain leaning government (or coalition of remain leaning parties) and we end up with another referendum.
  3. Unless we vote in a majority Lib Dem government (never say never in politics anymore) who revoke article 50.

and many many more potential permutations that are beyond me at the moment.

As such, it would seem that the current spell of uncertainty will run on for some months yet. And this really is my point. Can we really call it a ‘period of uncertainty’ anymore?

We have been doing this now for well over 3 years – it could be over 5 or 6 years before we are fully removed from the EU (if we even leave at all) and beyond that, it seems a 2nd run of the Scottish independence referendum is gathering pace as well.

As such, I have come to accept that so called ‘periods of uncertainty’ are becoming the norm. In our increasingly fractured and politically divided times, these periods are actually not really periods at all – they are just life.

This has strengthened my resolve, now more than ever, to keep calm and carry on and to advise clients to do the same. We must not use these media proclaimed ‘periods of uncertainty’ as an excuse not to take action on matters which are important to us. Otherwise we would never get anything done.

I think the time has come for individuals, businesses and, dare I say it, governments to accept that we live in volatile times and this is likely to remain the case. As such, let’s just get on with the job at hand. We do after all, live in normal times. The new normal.

"The value of investments and the income from them may fall as well as rise. You may get back less than you originally invested"