John Greenwood, chief economist at global investment specialists Invesco, said that although initially there would be a stalling of foreign direct investment in service and financial sectors, in the long run it would be to Britain’s benefit.
Mr Greenwood, who was in the Island this week to give presentations to clients and intermediaries said: ‘There would definitely be a short-term impact, perhaps over a couple of years, because it would take that length of time to negotiate all the arrangements.’
However, answering questions from the JEP, he said: ”If Britain left the EU, we think it would be a positive direction. It would not be hampered by all kinds of regulations and requirements from Brussels. The growth gap between Britain and Europe would widen in the short term, but in the long term Britain would be doing better.’
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