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What paraplanners think will happen with Brexit

10 December 2018

Over two thirds of paraplanners expect Brexit to have a negative impact on the UK, according to research carried out by Professional Paraplanner. 

As part of our monthly Parameters survey, we asked a series of questions about Brexit and the impact paraplanners felt it would have on their roles and whether clients were expressing concern.

As many as 43% said Brexit was likely to have an adverse affect on the country, with only 23% of respondents believing it will have a positive impact.

Among those paraplanners expecting the UK to be hit by the decision to leave the European Union, there was a general feeling that it would isolate the nation and make the UK less attractive to investors and businesses.

One commented: “It is a disaster; a retrograde step and an isolationist move disguising itself as globalism. When the true impact of it is felt by the majority of those who voted for it, they will sorely regret it. As will those of us who voted remain.”

Another expressed a similar opinion: “It will isolate us and be a disaster. Many financial institutions and corporations will leave the country and we will suffer the effects for generations to come.”

Other paraplanners cited the chaos of negotiations, the adjustment period and the increased cost of imports as reasons to believe Brexit would negatively impact the UK.

However, those respondents who were more optimistic about the outcome of Brexit said the ability to regain control would positively affect the UK.

One paraplanner commented: “In the long run being able to negotiate on our own terms on a global scale should allow the UK government to get more favourable trade deals than within the EU.”

Another made the point: “Legislation derived from the EU has hindered the UK market, such as GDPR.”

Despite a difference in opinion, however, both the negative and positive camp agreed that there would be an adjustment period of several years, after which point things should start to improve.

A further 28% of those surveyed said they were unsure what the impact of Brexit would be, largely because of a lack of clarity around a deal, while 5% had no opinion.

One noted: “There is so much uncertainty and the press does not provide you with the full picture, so this question is virtually impossible to answer.”

Another commented: “There are pros and cons to Brexit, regardless of what deal we strike with the EU. However, in the long run, I think the UK will be fine.”

Professional Paraplanner