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13 Things That Have Happened To The UK Economy Since The EU Referendum

Vote Leave campaigner Boris Johnson said there would be "no economic shock" to the UK in the event of a Leave vote. One month on, what has actually happened?

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2. On 24 June, sterling fell by 8% against the dollar, the biggest one-day fall of any hard currency since the early 1970s. The pound is still at a 31-year low and hasn't recovered.

Anthony Wallace / AFP / Getty Images

A man looks at his computer screen showing the Brexit live poll and realtime GBP/HKD rates on during a live broadcast of the Brexit vote results in Hong Kong on 24 June.

4. Sterling's weakness helped fuel a £24.3 billion Japanese takeover of the UK's largest technology company, ARM Holdings. Analysts expect more post-referendum foreign takeovers.

Niklas Halle'n / AFP / Getty Images

Chancellor Philip Hammond greets Masayoshi Son, CEO of Japanese mobile company SoftBank, who has just agreed to purchase ARM Holdings for £24.3 billion.


5. Six major property funds, collectively worth more than half the £25 billion invested in commercial property in the UK, suspended trading to stop investors withdrawing their funds. The funds have since started selling off key buildings such as 440 Strand in central London, the home of Coutts bank.

6. The government scrapped its flagship fiscal policy of the last six years: bringing public finances to a surplus by 2020. The policy's architect, former chancellor George Osborne, was unceremoniously sacked by new prime minister Theresa May.


11. The Bank of England has warned of a "weakening" housing market as a survey of chartered surveyors found there were 45% fewer properties for sale in June, compared with a year earlier.

Carl Court / Getty Images

An advert for a luxury property is seen in the window of an estate agent in January 2015 in west London.

Patrick Smith is a senior reporter for BuzzFeed News and is based in London.

Contact Patrick Smith at

Simon Neville is business editor at BuzzFeed UK and is based in London.

Contact Simon Neville at

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