Woodford IM: 'No-deal' Brexit 'nowhere near as bleak as many have predicted' for UK economy

‘Compromise deal’ most likely

A 'no-deal' Brexit agreement between the UK and European Union "would not result in a major slowdown or recession", as policymakers will react in ways that "blunt the impacts", according to research published by Woodford Investment Management.

The firm commissioned Capital Economics to carry out further research on Brexit and its impact on various parts of the UK economy, after doing so in the lead up to EU referendum in February 2016. The group, led by veteran fund manager Neil Woodford, has now published Brexit: where are we now? which found that although there would be some "economic dislocation" with growth dipping under 1%, the government would react with a combination of low interest rates, low taxes and increased subsidies to counteract the market shock. Moody's downgrades UK credit rating on Brexituncertainty Com...