Just 4% of brokers would change Brexit vote

92% of brokers would vote the same way on Brexit having seen the immediate aftermath of the decision on the sector.

Related topics:  Finance News
Rozi Jones
11th August 2016
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"Despite all that’s happened in the aftermath of the EU referendum, the vast majority of brokers on both sides of the debate would not change their minds on the Brexit question."

The United Trust Bank survey found that 2% of respondents would have switched their vote from ‘leave’ to ‘remain’ and exactly the same number would switched their vote from ‘remain’ to ‘leave’. 4% of respondents either didn’t or couldn’t vote.

The survey also revealed that the majority of brokers are not expecting Theresa May to trigger Article 50 of the Lisbon Treaty this year. 47% expect the new PM to begin the formal process of withdrawing from the EU in the first half of 2017 and a further 18% by the end of 2017. 9% of respondents don’t believe that Article 50 will be triggered at all.

Harley Kagan, Managing Director of United Trust Bank, commented: “Despite all that’s happened in the aftermath of the EU referendum, the vast majority of brokers on both sides of the debate would not change their minds on the Brexit question. This would indicate that they were prepared to accept the short term economic consequences of a decision to leave the EU or just didn’t believe the severity of the warnings in the first place.

“At UTB there’s a sense of cautious optimism about the opportunities the next few years might bring. There’s certainly no shortage of new enquiries for funding across all divisions of the Bank and it serves as a reminder that much of our everyday lives will go on as before, largely unaffected. There are farmers, hauliers, developers, dentists, in fact all types of businesses and industry which supply the goods and services that we all consume every day, whether we’re part of the EU or not. Many of them will want to keep growing and will require financial support to do so. These businesses will rely on lenders like United Trust Bank to help them achieve their goals and brokers to guide them to the most suitable solutions. We stood by our customers throughout the credit crunch and we will continue to support customers throughout the Brexit.”

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