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Every other week, we release 5 Minutes for Business, a publication written by Hendrik Brakel, our Senior Director of Economic, Financial and Tax Policy. In these publications, Hendrik briefly describes current issues that affect the Canadian economy and provides insight on what it will mean for Canadians today and the future. In this week’s edition, he looks at the Brexit vote results, their impact on the economy and what Canada needs to do now.

The polls were wrong; the government was wrong and even the bookies were wrong, and now the U.K. has voted to leave the European Union. The hardest question in all of this is “Why?” Is it partly a protest vote, a symptom of frustration with politicians, globalization and declining family incomes? 

Regardless the reason, this decision caused the pound to fall to its lowest level in 30 years, and global markets lost $2.1 trillion. So what does this mean for Canada and what should we do now?

Read 5 Minutes for Business to find out.

For more information, please contact Hendrik Brakel.

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