As events unfolded overnight, this morning has perfectly demonstrated how turbulent our economic and political landscape is at the moment. Britain has voted to exit the European Union in a historic vote which will have seismic ramifications for us all.
The Prime Minister, David Cameron, has just announced his resignation. The Pound has dropped to its lowest levels in over 30 years in early morning trading.
The future is unclear, but one thing that is certain is that it will involve a huge amount of change for all of us. All organisations (both public and private) will be impacted by the impending changes after David Cameron invokes Article 50 of the Lisbon Treaty. This will start the exit negotiations from the EU which could take up to 2 years to conclude.
Some things will continue as normal during the negotiation period. EU laws will still apply to the UK and British ministers continue to participate in most EU business. Some things will change with almost immediate effect however, as the collapse of the pound on the currency markets this morning has evidenced. Britain is likely to lose its AAA credit rating in the near future as a result of the Brexit vote, analysts have predicted this morning.
Procurement Hub is hosting a Think Tank session entitled “The EU Referendum – What Next?” at this year’s CIH Housing Conference in Manchester. The Ideas Exchange session, which is open to all visitors, will take place at 3pm on Tuesday 28th June in Central 5, and will ask questions of lawyers, suppliers, and housing experts, on what they believe the impact of this morning’s vote will mean. I look forward to what I’m sure will be an incredibly lively debate at that session.
Procurement Hub’s campaign for the CIH Housing conference this year has been “The Landscape is changing … and we’re perfectly placed to help” – and today clearly underlines that! Although we are on the precipice of some tumultuous and uncertain times, Procurement Hub is perfectly placed to offer help and guidance to your organisation as we all travel down a new and unexplored path together!