The British government is "clueless" about how it achieves its aim when it comes to Brexit, according to UBS senior economic advisor and former chief economist George Magnus.
Magnus — one of the City of London's most respected economists — said that it seems the government has no idea how to achieve its goals in Brexit negotiations. Speaking on a panel at the Brexit & Global Expansion Summit in London on Monday, he said: "I don't think there is really a strategy." [...]
"There’s a general consensus amongst negotiators that the UK government is in a state of disarray," he said, echoing Magnus' views.
Magnus also said that the post-referendum economic shock predicted by most economists before the vote "is not going to happen."
Magnus told the conference: "A lot of the kind of the concerns that were issued before the referendum about how we’re going to fall off the edge of a cliff if we vote to leave the EU. That has clearly not happened and in my view is not going to happen any time in the foreseeable future."
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