Richard Portes's picture
Affiliation: 
London Business School and CEPR

Voting history

Brexit: the potential of a financial catastrophe and long-term consequences for the UK financial sector

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Question 1: Do you agree that there would be substantial negative long-term consequences for the UK financial sector if the UK were to leave the EU?

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Answer:
Strongly agree
Confidence level:
Extremely confident
Comment:
We would first lose all euro clearing business, because the ECB would require that it move to a euro-area country, and we would no longer have the protection of the ECJ (which stopped them from doing this before). In the likely case that we would stay out of the Single Market (because the 'Norwegian model' would be unacceptable to the Leave leaders), we would lose access for financial products and automatic 'passporting' rights, as well as any influence on EU financial regulation. Many activities and much financial sector employment would go to Frankfurt, Paris, and Dublin - Edinburgh as well, if Scotland were then to secede.

The future role of (un)conventional unconventional monetary policy

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Question 2:  Do you agree that central banks should operationalise the use of these alternative tools of unconventional monetary policy for use either in the near term, or in the future, as economic conditions warrant?

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Answer:
Strongly agree
Confidence level:
Extremely confident

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Question 1: Do you agree that central banks should continue to use the unconventional tools of monetary policy deployed in response to the global financial crisis as part of monetary policy under normal economic conditions?

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Answer:
Strongly agree
Confidence level:
Extremely confident

National Living Wage and the UK economy

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Question 2: Do you agree that the new NLW will have a muted effect on wages and prices?

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Answer:
Strongly agree
Confidence level:
Extremely confident

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Question 1: Do you agree that the new National Living Wage is likely to lead to significantly lower employment?

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Answer:
Disagree
Confidence level:
Very confident

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