It's crunch time for Brexit, but should you protect your finances or try to profit?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 4 October 2019

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s crunch time for Brexit and things could go one of three ways.

Theoretically, a no-deal Brexit shouldn’t be able to happen and the Prime Minister has to ask for an extension instead, but we are faced with the bizarre prospect of the Government saying it might be able to dodge the law… and so maybe no-deal could still happen.

And then, of course, there is the possibility that instead of no-deal or an extension, we actually get a deal.

Amid all this, we’ve had news that the UK economy slowed earlier this year and fresh fears over recession, global trade war worries have stepped up a bit, an election’s on the cards, the stock market’s been tumbling and interest rates are going to head down not up.

So, is it time to batten down the hatches, or should you be optimistic and aim to be greedy while others are fearful?

On this week’s podcast, Simon Lambert, Tanya Jefferies and Georgie Frost look at what the latest episode in the Brexit soap opera means for our money, from savings and investments, to mortgages and holiday money.

They also discuss the question of whether it is too late to protect your finances against no-deal?

Also on this week’s show, the women’s state pension age case defeat and what it means, the almost certain 4 per cent rise for the state pension next year, and what Drastic Dave’s departure from Tesco means for the UK’s biggest supermarket.

And finally, you might fancy a classic car but think you can’t afford one – but the team have got ten bargain cars tipped for future classic status that put one in reach (and Simon explains how man maths means they’re almost free).

Transcript

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0:00.0	Welcome to This Is Money. I'm Georgie Frost and alongside me and editor Simon Lambert today is pension's guru Tanya Jeffries.
0:06.8	And coming up, deal or no deal, it's crunch time for Brexit. But where is it all heading? Does anybody know?
0:14.4	Is it time though to batten down the hatches or should you be greedy while others are fearful?
0:20.2	Also today at the end of the road for the Waspie campaign
0:22.4	after losing their landmark case at the High Court
0:25.8	but we do have some good state pension news
0:29.2	plus all shamed at the top as Tesco gets the boots
0:32.2	and rags to riches motors
0:34.6	what are the classics of the future
0:37.1	and don't forget you can stay up to date with all the latest breaking money news, just go to this ismoney.com.
0:42.3	UK or download the app.
0:45.3	But first, after three long years, it's crunch time for Brexit and the outcome could go one of three ways.
0:52.3	Everyone kisses and makes up and we all agree a deal, or we don't, theoretically.
0:56.7	A no deal, though, is legally off the table, but no one seems to have mentioned that to the government.
1:01.9	Or we could just kick the can further down the road and get another extension or two or three.
1:07.1	As if this wasn't enough, though, we can add a bit of bad news about the UK economy, some
1:11.9	fresh fears over a recession, the stepping up of global trade wars, interest rates potentially
1:16.2	on the up, plus, oh no, not another one is another election on the cards.
1:21.6	So, with all that in mind, Simon, it's good that you keep your clear head while others around them are losing theirs.
1:29.5	So how likely are all these outcomes that I've mentioned?
1:35.6	Whilst trying to leave the politics of Brexit out of this as much as possible, if possible,
1:42.4	or trying to be fair and therefore equally scathing to all sides,
	...

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