Families have £650 less holiday money thanks to Boris Johnson's No Deal threat

Families will have £650 to spend on holiday because fears of no-deal Brexit have led to a fall in the pound.

It fell to a two-year low yesterday, as the new Prime Minister ramped up plans for crashing out without a deal – including spending to up to £100 million on a no-deal advertising campaign.

Campaigners warn Brits jetting off abroad will have to tighten their belts because of the weak pound.

Sterling tumbled yesterday, with a pound worth barely more than a euro at 1.0981, a 1.34% fall.

Against the dollar it fell 1.24% to 1.2228, its lowest since March 2017.

In fact since Boris became Prime Minister, the pound has fallen by 1.545% against major currencies since Boris became PM.

Boris Johnson was trying to reassure farmers in Wales

Read More

Latest Brexit news

Anti-Brexit campaign group Best for Britain estimates this adds up to  a per person loss of £163 for holiday-makers -or more than £650 for a family of four before they have even left home. 

Nigel Green of financial advisory firm deVere Group said the pinch will be felt by all those going abroad, not just in the eurozone.

He added: “The pound is the worst-performing major currency in the last three months, meaning almost every destination is now more expensive.”

Connor Campbell of SpreadEx said: “The pound had the fear of God put in it.”

Mr Johnson has repeated his desire to get a deal but insisted that he would leave without one in order to stick to the 31st October departure date.

Today the PM insisted that no-deal Brexit would be the EU’s fault.

On a visit to Wales he said: “We’re not aiming for a no-deal Brexit and we don’t think that’s where we’ll end up.

“This is very much up to our friends and partners across the channel. We cannot go on with the withdrawal agreement as it currently is, everybody understand that, it’s dead.

“If the EU understands that I think we’re going to be at the races. If they can’t compromise then clearly we have to get ready for a no-deal exit.”

Shadow Chancellor John McDonnell said: “Johnson and his ministers’ reckless threats of a no deal are hitting pockets.”


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.