George Soros’ belief that the UK’s decision to exit the EU would trigger a big sell-off in the pound and a deep fall in household income indicates Britain’s dependence on the EU. Mr Soros, a billionaire investor, is expecting at least a 15 per cent fall in the pound’s value and more than 20 per cent against the dollar. The UK is already struggling with a current account deficit and a currency-value loss would not help exports after Brexit. Mr Soros’ argument has economic logic.

Neha Verma

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