As governments, businesses and households scramble to respond to the unexpected decision by the UK to leave the EU, what are the immediate political consequences and economic implications that they should be expecting?
A key player in this first act to watch out for is the UK consumer - the spending power of the UK consumer is going to be squeezed. The combination
of the large degree of uncertainty, pressure on earnings, a weaker pound and higher inflation biting into purchasing power, and potential falls
in house prices could all combine resulting in a freeze in spending.