Investment bankers cashing in on a No Deal Brexit


Thank you, Mr. Speaker. Just for some context on these figures,
correct me if I’m wrong but back in 2016 Odey Fund Management made £300 million on shorting sterling. By contrast, the UK automotive industry have spent £350 million
in ensuring they are protected against a No Deal Brexit. Does the minister not recognise that we are vulnerable in our
manufacturing sector, in our heartland communities to losing jobs losing businesses because of the practices of
these short sellers? And if I may just quote Lord MacPherson, former Permanent Secretary
of the Treasury who tweeted: “Mr. Hammond is right to question the political connections of some
of the hedge funds with a financial interest in no deal. They are shorting the pound and the country, with the British people
the main loser. What does the minister say?

Paul Whisler

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