Liam Halligan warns 'we could see the pound start to suffer unless this is nipped in the bud'
The GB News presenter called for a resolution a change in Government to avoid a financial crash
GB News Presenter Liam Halligan called for a resolution or a change in Government or the "pound would start to suffer" following the bout of resignations over the Chris Pincher row.
In an interview with fellow GB News Presenter Nigel Farage, Liam noted how the pound to dollar rate has dipped to its worst rate since the 1980s
In its latest Financial Stability Report, the Bank of England stated that the economic outlook for the UK and the rest of the world has "deteriorated materially".
The Bank's comments come as energy and fuel costs are rising exponentially , elevating prices at a rapid speed.
Global financial markets endured a tumultuous day, fearing recession for the US and Europe, noting a severe slump in the pound, following the crisis engulfing the British government.
The pound's value barely altered when it emerged that the Health Secretary and the Chancellor of the Exchequer were leaving their government roles.
Liam added how the "financial markets are now taking umbrage" following the scandal embroiling the Conservative government.
Mr Pincher quit as deputy chief whip last week following claims that he groped two men at a private members’ club, but Mr Johnson was told about allegations about him as far back as 2019.
The Prime Minister acknowledged he should have sacked Mr Pincher when he was told about the claims against him when he was a Foreign Office minister in 2019, but instead Mr Johnson went on to appoint him to other government roles.
Adressing Nigel, the economist continued stating: "It strikes me that given political crisis here in the UK, given our reliance on imported energy, given the sense of drift now, we haven't seen since I was a lad in the mid 1970s, I think financial markets currency markets in particular, will now test the resolve of the British government of the Bank of England and start taking a long hard look at the pound.
"We could see the pound start to really suffer tomorrow unless this political crisis is nipped in the bud pretty quickly."
Former Chancellor of the Exchequer, Rishi Sunak came under increasing pressure from the public, as the cost-of-living crisis worsens, sending inflation to 40-year highs.
"i don't wish to be mercenary about it, I dont wish to cause alarm. I am a economic analyst who knows a lot about politics and I think you'll agree
"It doesn't matter what anyone says there will have to be a change in government".