Brexiteer Bernard Jenkin condemns market hysteria over Theresa May's speech

Bernard Jenkin believes the market has overreacted

Theresa May is to give a major speech on Brexit tomorrow

Monday, January 16, 2017

Pro-Brexit MP Bernard Jenkin has dismissed the diminished value of the pound following reports that the Prime Minister is going to go for a 'hard Brexit', suggesting the market is "overreacting."

Tomorrow (Tuesday), Mrs. May is to give a major speech that will clarify what she wants for Brexit, having been under pressure for months to unveil her strategy for negotiations ahead of the triggering of Article 50, which has been promised by the end of March.  

Yesterday reports emerged that the PM was reportedly going for a 'hard Brexit', prompting the pound to fall once again. 

Bernard Jenkin, the MP for Harwich and North Essex, expressed his lack of faith in currency traders in an interview with Julia Hartley-Brewer, and suggested the UK won't be overly affected financially by Brexit.

He said: "I think this is just another little adjustment.

“Leaving the EU is about taking back control of trading terms with other countries and immigration, but particularly our laws and our courts. Even if there is no trade deal with the EU, we’ll still have ‘most favoured nation’ status.

"I don’t recognise this is an argument about Brexit. It’s about shaping the economy.

"We may have to make more reforms without EU market access, but we’ll have the money to pay for it.”