Honey, I shrunk the Brexit dividend
They’re slippery these Brexit dividends. Take your eyes off them and, whoosh, off they go: either disappearing or materialising not really as promised.
Last year’s trade agreement with Australia was “tailored to the UK economy,” we were told, a “historic” deal that would “create new opportunities for businesses.”
Perhaps this meant historically bad: George Eustice, environment secretary at the time of the deal, said this week that it “gave away far too much for far too little in return.”
More assets are likely to be eligible for this treatment, as the sector wants. But the PRA has concerns over the calculation of the credit risks taken by insurers in their investments. It wants a tougher approach.
This story originally appeared on: Financial Times - Author:Helen Thomas
