Michael Murray: Uncertainty hurts us all

Financial markets hate uncertainty. The first, most obvious impact of the uncertainty over the Brexit referendum was to be seen last week when London’s former lord mayor and populist Tory MP Boris Johnson came out in favour of Britain leaving the EU.

Subsequent opinion polls showed the Leave and Remain sides neck and neck, with 18 per cent of the electorate undecided.

Since November, sterling has fallen by 13 per cent against the ...