Johnson’s ego threatening Brexit


UK Prime Minister Boris Johnson “must put his ego aside” for the sake of Britain’s economic growth, according to deVere Group chief executive Nigel Green, as more MPs resign from the Conservative party over Brexit.
Following his Commons defeat last week, Johnson saw several MPs including Speaker John Bercow and former Home Secretary Amber Rudd resign.
However, Parliament was due to be suspended from today until 14 October, meaning no more debates could be held and Johnson was still hopeful he could force through a no-deal Brexit with the UK leaving the European Union on 31 October.
This week, Johnson met with Irish leader Leo Varadkar to try to reach a deal on the Irish backstop issue, one of the most problematic Brexit issues concerning the border between the Republic of Ireland and Northern Ireland.
Green said: “It is critical that Boris Johnson now puts his ego aside to break the Brexit deadlock for the sake of Britain’s long-term sustainable economic growth.
“Johnson needs to stop wasting time, stop his bully boy tactics, and start with real diplomacy to get negotiations reopened.
“[He] must get on with seeking a deal that gets through parliament. A failure to do so will hamper the UK’s long-term sustainable economic growth.”
He said Johnson also had the benefit of a weaker German economy in his favour as they would be reluctant for a no-deal to happen.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.