Martin Lewis Reveals Effect Of Donald Trump Victory For UK Consumers

He shared his 'honest answer'.

09/11/2016 12:44 | Updated 09 November 2016

Martin Lewis has revealed his thoughts on the likely effect of President-Elect Donald Trump on UK consumers.

The Money Saving Expert used a short video on Wednesday to reassure people that the billionaire’s surprise victory is not likely to cause great upheaval financially.

Responding to questions about what effect Trump might have on our finances, Lewis said: “My honest answer: not very much. Keep calm, carry on.

“Why do I say that? Well, first of all Trump is president-elect, not president. So we certainly haven’t had any real change yet.

“Yes, we’ve had the usual sentimental response from the market - this isn’t what the pollsters predicted and this isn’t what the big institutions wanted or expected, they’ve got uncertainty now they don’t like that.”

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Lewis spoke to uncertain consumers on Wednesday morning

He continued: “This will be smoothed out. We’ve seen the dollar fall, certainly against the yen, not so much against the pound because of our own instability here.

“The big thing of course is that Donald Trump was the change candidate, that’s what he’s promised, he’s a US businessman you would expect him to try and focus on rebuilding their economy and try to boost it.

“The US is the engine room for world growth if it starts to drive that will trickle down to the rest of us. If he delivers that could be positive.

“Of course though with the separation of powers in the US the checks and balances could scupper him.

“Over all, I think the financial impact on us as consumers is pretty minimal.”

Watch the video, above.

Bloomberg
The movement in the pound to euro exchange rate on Wednesday morning

The pound plunged against the Euro as Donald Trump was elected President of the United States.

As the Republican won the key states of Florida and Ohio, Sterling fell from 1.1247 to 1.1113, but rose again slightly later on.

By lunchtime, however, the currency had recovered.

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