#BREXIT – A Cause For Recalculation?…

In a week that caught pollsters and bookmakers alike off-guard, the one prediction that could be made with any degree of certainty prior to last week’s EU referendum was there was going to be a period of analysis and speculation, whatever the outcome of the vote.  The fact that the final result wasn’t predicted has sent the hypothesising into overdrive, with one particular headline[1] catching my eye on The Register…

Gartner has re-forecast UK technology spend predictions from 1.7 per cent growth, to a drop of between 0.3 and 3 per cent this year ($4.6bn); growth forecasts for next year are also rapidly being revised, as Brexit wasn’t the expected outcome.

The cause for the recalculation is uncertainty.  The phrase “unchartered waters” has been overused since last Friday morning, however the potential unpicking of a 43-year-old union will take significant amounts of time, patience, and care to ensure any negative socio-economic impact is minimised.  Couple the above with currency instability, and business leaders will already be pausing and rethinking where investment is best directed.

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[1] Gavin Clarke, “Gartner: Brexit to wipe $4.6bn off tech spending in Blighty”, http://www.theregister.co.uk/2016/06/24/gartner_uk_it_spending_negative_on_brexit/