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Over a third of private investors say UK should leave with no deal

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Following a week of to-ing and fro-ing in the House of Commons, more than a third of investors favour a no deal Brexit, according to The Share Centre.

The stockbroker surveyed more than 3,000 of its customers and found that 37% were in favour of the UK leaving the European Union (EU) without a deal.

Close to a quarter (23%) felt there should be a second referendum, while only 19% saw any value in the UK renegotiating the current withdrawal agreement with the EU.

A further 19% were in favour of revoking Article 50.

These fascinating findings follow an eventful week for the UK’s lawmakers: on Tuesday MPs voted against prime minister Theresa May’s withdrawal agreement, on Wednesday they voted against leaving the EU without a deal and then last night the majority of MPs supported plans to ask the EU for a delay to Brexit.

Although MPs have voted against the prospect of leaving without a deal with the EU, this does not necessarily mean that it will happen. Under Article 50 the UK has legally committed to leaving the EU on 29 March. If a withdrawal agreement is not in place, then a no deal will be the default scenario.

When The Share Centre’s customers were asked if they would like to leave the EU on the terms agreed or remain, 54% said they would vote to remain. This contrasts with the 51%-49% split in favour of leaving the EU recorded during the 2016 referendum.

Richard Stone, chief executive of The Share Centre, commented: “It is clear personal investors don’t support the current deal that has been negotiated by the prime minister. When faced with the alternatives perhaps surprisingly, personal investors favour leaving with no deal.”