Keep calm and carry on, says the Scotsman's Bill Jamieson
Ride the choppy waves of politics at Westminster and Holyrood, but don't be dominated by it all.
"What an unholy mess. We seem to be caught between the political equivalent of a nervous breakdown and a potential break-up of the UK.
"Keep calm? Really? But yesterday, I should point out, the pound rallied. And on the FTSE100 Index rose a further three per cent and is back above 6,300. The ‘billions lost in market bloodbath' have largely been put back".
There will be market turbulence, but we do not have to despair. Markets love turbulent times, it is when they thrive. Change, hard work and enterprise is what drives a progressive economy. And now is the time to look for opportunity.
Bill Jamieson says: "If I were running a tourist business today I might be cheered that the lower pound against the dollar will bring more US visitors. If I were a small and medium sized enterprise I might be cheered at the prospect of not having to document compliance with regulations that do not apply to my business. In the meantime there is the prospect, not just of interest rates lower for longer, but of a further interest rate cut and a fall in the cost of my borrowings. If I were a fisherman or a farmer, I might be pleased that control over farming and fisheries policy could be transferred to Holyrood where it belongs, and if I were an exporter, the fall in the pound might be an opportunity for me to sell more of my goods and services abroad"
Let’s make the best of the situation as we can.
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