BSA: Focus must be on business as usual following Brexit

Ryan Fowler

June 24, 2016

EU Brexit European Union

With the decision to leave the EU now made the UK must return to business as usual as quickly as possible, according to Building Society Association chairman Dick Jenkins.

With it being at least two years before the UK can actually exit the EU Jenkins said that “nothing changes” and that consumers and financial services professionals need to remember that things are the same as they were before the Referendum.

He said: “The UK population has made its decision and it is important that the focus returns quickly to business as usual.

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“The process of leaving the EU will be a relatively slow one, taking around two years. Today and for the foreseeable future nothing changes in the building society sector: Mortgages are available and retail savings are safe, exactly as they were before the Referendum.

And Jenkins called on the government to form a plan for the financial services industry quickly so as to prevent uncertainty creeping in to the sector.

He said: “The greatest concern for the UK economy and something that affects financial market sentiment and ultimately interest rates is uncertainty.

“The primary job for the government and politicians generally is to unite to ensure that they do everything possible to counter this and set the tone and framework for the UK Economy to thrive.”