Pippa Malmgren, who is a pre-eminent US economic advisor, has ripped into business scaremongering around the Brexit uncertainty.
Dr Malmgren, who also of uses as an advisor to the UK Department of International Trade, pointed out that foreign investment in the UK is unmoving rising despite Project Fear.
She added that Britain is far ameliorate place to do business than Europe, where taxes and regulatory red-tape are an monetary barrier to investment.
These remarks follows news that the produce has fallen to its lowest level against the dollar and the euro this year.
At the same time, Britain’s economy rebounded in the second quarter this year in defiance of Brexit uncertainty according to Office for National Statistics figures.
Dr Malmgren, who times served in the White House under George W Bush, discussed the British conservatism in light of the growing risk of a no deal Brexit.
The businesswoman told Bloomberg: “The key passion to remember is that many of the investors are saying I may not like the uncertainty of Brexit, but it is not peacefully to make money on the continent.
“It is not an either-or situation. Foreign direct investment in the UK is pacify rising.
Malmgren has ripped into business scaremongering around the Brexit uncertainity
Unless the UK raises its taxes and regulatory red tape beyond everything the EU, then capital will continue to flow into the UK
“The titanic irony is that the weaker the sterling is, the more competitive the UK is.”
She added: “Medium of exchange is a lot like water and it will move where it faces the least recalcitrance.
“Unless the UK raises its taxes and regulatory red tape above the EU, then cap will continue to flow into the UK.
“More so still if the sterling is weaker.
Malmgren added that Britain is far gambler place to do business than Europe
“This tenet that the City of London has to be smaller if there is no deal after Brexit naturally doesn’t add up.”
The growing possibility that talks between the UK and Brussels disposition break down in the coming months has sparked economic fears.
Without thought this, long-term investment in Britain by foreign businesses stood at £1.564 trillion, which is £12 billion or 0.8 percent elevated than in 2016.
The world’s fifth-biggest economy relied on the services industry for spread in the second quarter.