E46: How to bounce back from redundancy with Jimmy McLoughlin OBE, Eleanor Mills, and Emma Ferenc-Bachelor
The following is a transcript of our monthly podcast, The Pension Confident Podcast. Listen to episode 46 or scroll on to read the conversation.
Takeaways from this episode
- The job market is rapidly shifting - The World Economic Forum predicts that by 2030 we’ll have 170 million new jobs, but nearly 92 million jobs will have disappeared.
- Employers face multiple pressures - higher National Minimum Wage, raised National Insurance contributions (NICs) and the new Employment Rights Act.
- Bouncing back from redundancy is harder for older workers - The Centre for Ageing Better estimates that those over 50 years old are twice as likely to struggle to find a new job after being made redundant than younger colleagues.
- We’re living longer - in a world where the 100-year life is increasingly common, redundancy in midlife can be an opportunity to reskill and prepare for a new career.
PHILIPPA: Welcome back. Today we have a question for you: where do you see yourself working in five years’ time? In a rapidly changing world, that question is becoming harder to answer. The World Economic Forum predicts that by 2030, so not long, we’ll have 170 million new jobs, but nearly 92 million existing jobs, they’ll have gone.
And that’s not all. The new Employment Rights Act came into law here in December. Over the next two years, phase changes will affect many workers’ rights, including: parental leave, unfair dismissal, and redundancy. Now, these changes, they’re mostly good news for workers, but some experts say they could also make employers more cautious about hiring. Some might even lay people off before the new rules take effect.
So what could this mean for you? Well, if you’re job hunting, expect more competition. If you’re working, but your job feels at risk, now’s the time to prepare so you can bounce back if redundancy does happen to you. That’s what we’re talking about today.
I’m Philippa Lamb. If you haven’t subscribed to The Pension Confident Podcast yet. Why not click right now, you’ll never miss an episode and catch every single new episode in 2026.
With me to talk about redundancy, I have Jimmy McLoughlin. He’s a former Downing Street Adviser. He’s Chief Podcaster at Jimmy’s Jobs of the Future, the UK’s most trusted careers podcast. Is that right? Did you just say that? Is it true?
JIMMY: I’m not sure where that’s come from. It is now.
PHILIPPA: It says so on your website, so I’m reading it out. Impressive guest list I have to say, you’ve had some heavy hitters, including the Prime Minister.
JIMMY: Yes, which is very interesting, in terms of job security.
PHILIPPA: Eleanor Mills, she’s a former Editorial Director of the Sunday Times. She’s Founder of Noon, which is a platform which helps women find a new path through midlife and beyond. She’s also the Author of the bestseller, ‘Much More to Come‘.
From PensionBee this time, we’re joined by Training and Culture Manager, Emma Ferenc-Batchelor.
Hello, everyone.
ALL: Hi.
PHILIPPA: Thanks for coming in. Here’s the usual disclaimer before we start. Please do remember, anything discussed on the podcast shouldn’t be regarded as financial advice or as legal advice, and when investing, your capital is at risk.
How it feels being made redundant
PHILIPPA: Now, I’m going to ask you all the obvious first question. Have any of you ever been made redundant?
ELEANOR: Yes.
PHILIPPA: OK. What happened?
ELEANOR: It was horrible. It was really, really grim. I’d been at my old newspaper for 23 years. I was the Editorial Director, I was the Editor of the Sunday Times magazine. I got a call asking me to go up and see the new Editor. I went up with all my stuff for the six months, all my jolly things.
PHILIPPA: The things you were going to be talking about.
ELEANOR: I just interviewed Sheryl Sandberg. It was all good, world exclusive. [I] walked in, the tissues were on the table, the Head of [Human Resources] (HR) was there with the new boss, and I was out. It was a truly horrible, surreal moment. A bit like being in a car crash. When you get that real dissociation.
I was sitting in that office and watching the tugboats chug up the Thames and the seagulls flying around the Southwark Cathedral. Just knowing in that moment that my life was never going to be the same again. It’d been my life from when I was 21 to when I was 50 [years old], and I suddenly realised that I was going to have to start again.
PHILIPPA: Horrifying. You’ve had this, too, Jimmy?
JIMMY: Well, yes -
PHILIPPA: - in a sense -
JIMMY: - in a sense, slightly different. But it’s quite interesting, because people are probably quite interested in what happens when a Prime Minister changes. I was a Special Adviser to Theresa May, and I was there for the entire three years. But people will remember that Theresa May’s premiership wasn’t the most stable of times. So you were constantly aware that this may all come to an end this week.
What happens when a Prime Minister leaves is [that] all the political appointees, which [are] Special Advisers, all leave. You are - you literally wave the Prime Minister, who goes and gives the speech outside Number 10, you wave them out in the corridor, at the front, and then you’re ushered out the back door.
PHILIPPA: Literally that?
JIMMY: Literally, that’s what happens. And then the new Prime Minister, Boris Johnson, had asked me to stay on for a little while. So one of just a couple that had happened to. And after a few weeks, we were about to have our first baby and whatever, and it was really time for me to do something else. So I took almost voluntary redundancy, I suppose you might say.
So that was 2019, and I thought, well, I just needed a bit of head space to work out what I was going to do in my life next and so on. If I’d known there was going to be a pandemic coming six months later, I might’ve taken one of the jobs that was offered to me as I left. But then I had an enforced period of thinking about it.
PHILIPPA: I’m going to say you two are complete outliers here. Most people, when they get made redundant, they don’t have jobs like yours. They’re just people who have that meeting, the meeting you described, a shorter version usually, with a HR person there and a box of tissues - if that! They’re out the door thinking, “how do I pay the mortgage next month?”.
EMMA: I think it’s quite interesting, because I haven’t personally gone through redundancy, but I’ve experienced it vicariously through my mum. She was a single parent. We were just at the age we were becoming quite independent - so [the] end of primary school, start of secondary school. I think at the time, it was very scary, but she looked at it as like, “well, actually, this opens so many more doors”.
She went back to university and finished a degree. She’d gone from [Transport for London] (TFL) driving a tube. She was like, “maybe this is the time to put into gear the things I do want to do”. Then she got a degree and then went to actually work for [University and College Union] (UCU). It was a fresh start. For me, it’s like, redundancy doesn’t always seem like a negative.
PHILIPPA: She sounds so impressive. I mean, I’ve got to say, having been a single parent myself, that wouldn’t have been my first thought. If I’d lost work and I was looking at paying all the bills by myself, I’m not sure I would’ve been as positive as your mum.
EMMA: At the start, she was like, “how are we going to do this?” But I think because we were at that age, we were becoming independent and we were - somewhat became like latchkey kids and me and my sister kicked into gear, I was like, “maybe we should actually learn how to cook now”.
The triple whammy hitting employers
PHILIPPA: There are positives if you can get there. But Emma, I do want to ask you about the nitty-gritty of this, because there’s talk of job cuts. It’s a tight labour market right now. It’s fair to say, employers are under pressure. We’ve got National Insurance contributions (NICs) going up. We’ve got wage pressure. I did mention the Employment Rights Act, and it kicks in this year and next year.
Do you want to just run us through [it]? This is a big piece of legislation. There’s a lot to it. One of the things that struck my mind was that we’ve got ordinary parental leave and paternity leave. They’re going to become ‘day one’ rights. Is that right?
EMMA: Yes. That’ll be parental leave and unpaid parental leave, also with sick pay - that’s the Statutory Sick Pay (SSP). That’d be from the first day of employment.
PHILIPPA: OK. And protection from unfair dismissal. Well, that becomes a right, I think it was going to be a ‘day one’ right, wasn’t it? But now it’s going to be, what, six months in?
EMMA: Yes. That was originally that would’ve been in play from two years [in].
PHILIPPA: OK, so that’s a big change that employers need to take on board, obviously, helpful for workers.
EMMA: Yeah.
PHILIPPA: OK. So helpful for working people. But obviously, I mean, Jimmy, from an employer’s point of view, if we look at it in the round, that’s going to make some employers think twice about hiring, isn’t it?
JIMMY: I mean, there’s a huge amount with this at the moment for businesses, because as you mentioned at the top, you’ve got the National Minimum Wage going up, you’ve got the NICs going up, you’ve got the Employment Rights [Act]. You’ve also got geopolitics and the tariffs happening, and you’ve also got the rise of AI as well. So the first three of those things are all government interventions, and it’s a lot for business to ask to do all at once. Any one of them, they’d probably complain about, to be fair, but it’s a lot all at once.
If you’re an employer, and I’ve now got access to all these amazing AI tools and so on, it does end up forcing you to think about that more. Because actually, and this has happened now for 15 years or so, the National Minimum Wage has gone up a huge amount. Basically, now, if you work full-time, you’re pretty much on £30,000. It’s gone up exponentially. Of course, for an employer, they’ve got NICs on top of that as well. It’s been one of these things that’s happened.
PHILIPPA: Yeah. So understandably, employers are going to be cautious. Obviously, they’re always cautious about hiring. They’re going to be potentially more cautious. And there’s some talk of potential redundancies ahead of some of this legislation kicking in next year. So would it be fair to say that obviously, jobs, it’s a tight market already. It could be tighter soon?
JIMMY: I think that’s true. I think we’ll get into the position where we’ll see the likes of Amazon hiring more robots and so on. It’s pretty extraordinary.
Where new jobs will come from
PHILIPPA: Where are the new jobs going to come from then? Because if we hear all these numbers [are] up, millions of existing jobs disappearing and all these new roles coming, what are they going to be?
JIMMY: Well, of course. This used to be my job in Number 10.
PHILIPPA: Yeah.
JIMMY: I’d get a phone call at 07:55 from Wilkinson’s or Debenhams saying, “we’re about to go into administration. We’re going to make 10,000 people redundant”. I’d go in and tell the PM this ‘joyous news’ to which she’d react with, “Jimmy, all you ever tell me about is job losses”.
But there are lots of interesting roles that are out there. I think actually, if you’re building or switching careers at the moment, arguably, there’s never been a more exciting time to do it. I think there’s more opportunity out there. There’s more jobs being created, but they’re not the jobs that you grew up knowing.
PHILIPPA: Thinking about what people might do in that situation, if you’re thinking about if your job’s looking at risk, and you’re not in a very ritzy job and you do need to pay the bills, where should you be aiming if you’re thinking about what sectors are actually going to be flourishing for me?
JIMMY: You’ve got the obvious ones like AI, technology, creator economy, etc. What I think could be interesting is the human face-to-face jobs. I look at elderly care being a primary one of this. Having done 250 episodes of Jimmy’s Jobs of the Future, people always ask me what the future looks like. I don’t know anything about the future. You can’t predict with certainty at all. But the one thing you can predict is demographics.
PHILIPPA: Sure.
JIMMY: We’re going to have lots of old people.
PHILIPPA: Ageing society.
JIMMY: I think that’s a big thing. I think the hope with AI is that it’ll be able to automate a lot of the admin work that people have and people are actually able to do the job of caring for people.
EMMA: I think there’s a bit of scaremongering in regards to what jobs will exist and how the employment industry will look. But I think technology-related jobs are the fastest growing in percentage terms. I think people need to be looking at stuff around data, AI. It’s looking at the language, fintech engineer or machine learning specialist. I think it seems like jobs are shrinking or maybe disappearing, but I think it’s more just pivoting.
JIMMY: I think people have to think of themselves as a T-shape. You want to have a deep skill in something, but then you want to be trying to add these bits onto the side as well. One of the interesting jobs that I think isn’t that academic necessarily, it’s like community managers. All these companies now are like, they talk about community, and I’m sure PensionBee does do this a lot. It’s part of this podcast, right?
PHILIPPA: Sure.
JIMMY: It’s building that out. I think that’s a more interesting area as well for people that they can get involved with, learn how to build and be involved in the community.
Reskilling in midlife
ELEANOR: What I also see amongst my midlife women is that they’re actually radically reskilling, and they’re taking up things like being an electrician or plumber or carpenter or becoming therapists or coaches or doing things which the AI won’t be able to do. We’re always going to need people to decorate our homes. That’s not something that AI can do. Being a therapist, actually, it’s quite important to speak to a real person. We were talking about caring roles earlier. I think it’s also, or gardening, it’s thinking about the things that the AI is never going to be able to do.
I see some really exciting midlife women taking up really new skills, setting up their own building companies, that kind of thing. I think it’s also worth, yes, the T thing, adding some things onto what you already do. But I think if you’re made redundant, particularly at midlife, thinking that we’re going to be here for the 100-year life, many of us, we’re all going to live a lot longer than we think, is A, where lots of us are going to be made redundant and have to start again and reskill, and that B, at 50 [years old], if you’re actually going to have another working life of 25, 30 years, it’s worth reskilling. It’s actually worth maybe learning something new.
PHILIPPA: Can we just look back to who’s most at risk of job loss here? Because I know, Eleanor, middle-aged women, you’re high risk, right?
ELEANOR: Well, there’s a lot of gendered ageism in the culture, and certainly what I’ve seen within my community, so we now have a community which is 100,000 strong of women in midlife. We call them ‘Queenagers’. We see that a lot of women, as they hit 50 [years old], hitting ‘gendered ageism’ - which is where ageism hits sexism.
I think that certainly within the corporate world, [the] corporate world likes women to be pleasing - physically pleasing, and also emotionally pleasing. I think younger women are much more likely to tick both of those boxes. As you get a bit older, a bit more experienced, a bit more bolshie, you’ve been around the block a few times, it’s not your first rodeo, you’re much more likely to go, “well, don’t think that’s going to work? We did that five years ago”, or “no, actually, I think we should do this”.
I think that less pleasing-ness in [older] women is still a bit of a challenge. I was talking to the Head of SmartWorks the other day, who try and get women back into careers, and they say that they see it takes twice as long for a woman over 50 [years old] to get a job as it does for the younger women.
PHILIPPA: OK.
ELEANOR: This is a very, very real thing. The Menopause Society also says that one-inten women are leaving jobs, or being pushed out of jobs, as they hit this age.
PHILIPPA: Those of us who’ve had kids know how hard it was to get decent work, part-time, when you were trying to combine it with childcare. Well, certainly that was my experience [and] most of my friends, real struggle there. A lot of women end up taking quite low-grade jobs to make that work. So all this stuff might make people more vulnerable to job loss.
ELEANOR: I think for redundancy in midlife, what I see with a lot of the women, is a lot of them had a very what people now call a ‘squiggly career‘. If you haven’t had a very linear career progression, and that’s true for a lot of women because they’ve taken time out for caring, they are quite often find it difficult to tell a coherent, succinct narrative about exactly who they are and what they’ve done.
So one of the things that we do at Noon is we do this rebrand course where we help people with what their story is. And if you can get your own story right, which takes in some of the setbacks as well as the triumphs, then you create a very cogent and human story to help people with. So I find that that’s something that’s really useful for people when they’re restarting.
Your redundancy rights
PHILIPPA: I want to loop back further to the point at which you lose your job. Emma, are you able to talk to this? What are your rights? What notice period? What consultation?
EMMA: In regards to notice period, it’s about a week for every year that you work. That’s up to 12 weeks’ notice period. You should also get a consultation with your employer. So essentially, that’s an opportunity for them to speak with you, to inform you why you’re being made redundant, if there’s any alternatives to redundancy, and if your employer is making up to 19 redundancies, there’s no rules about how they should carry out the consultation.
PHILIPPA: Not that helpful, to be honest.
EMMA: But in regards to pay -
PHILIPPA: - [there’s] statutory redundancy pay, isn’t there?
EMMA: So you need to be there for two years, and you need to be an employer, so it can’t be [a] contractor or freelancer.
PHILIPPA: So this is a really key thing to know, isn’t it? If you’re listening to this right now and you’re on contract, and of course, millions of people are, let alone gig work. Or you haven’t been there, even if you’re an employee, for two years - nothing. They’re not required to give you a single penny. This really speaks to the need for pre-planning, doesn’t it?
ELEANOR: We see a lot of people being made redundant just as their two-year contract comes up. Just at the point where they’re beginning to get employment rights, they get whacked. We see that a lot.
PHILIPPA: That’s the key thing for everyone to understand. But if you’ve been there for two years, it’s about your age?
EMMA: Yes. If you’ll get half a week’s pay for each full year, if you’re under 22. It’s one week’s pay for each full year if you’re 22 and older, but under 41. And one and a half weeks pay for each year if you’re 41 and older.
An example of that would be if you’re made redundant on 1 January this year, you’re 42 years old and you’ve been working for about five years and earning about, let’s say, £767 a week, so that’s just under £40,000 [a year].
PHILIPPA: OK.
EMMA: Your statutory redundancy payment could be just under £4,000.
PHILIPPA: I’m going to say that’s not a lot of money, is it, in today’s world? It’s not going to take you very far, is it?
Cutting spending and saving tips
PHILIPPA: That takes me to my next question then, which is about preparing for this horrible reality. We’re a personal finance podcast. In many ways, let’s talk about what you should do, because you’re going to need a cash cushion to at least tide you over. Presumably, we haven’t talked, Emma, about this six-month cash cushion, but it’s hard to get six months’ money together, isn’t it? Of six months of your outgoings.
EMMA: Yes, that’s definitely something that I’m doing. I know that, especially living in London, it can sometimes feel quite impossible. But I think as cliché as it is, every little helps. I think starting with a - I think that’s one of the things I actually learnt in university. It’s like a small nest egg can keep rolling, keep going. I think that, yes, trying to get that six months fund is a good starting point.
PHILIPPA: I must say, if I was employed right now and I was thinking my job was fragile, I’d probably be cutting out any unnecessary expenditure, wouldn’t you? Just be thinking about, do you really need whatever it is you got your eye on in the sales right now?
EMMA: Funnily enough, one of the things I always say to myself in regards to saving is, “if you can’t afford to buy it twice, then you can’t afford it”. If I can’t afford to replace it, then I can’t afford it. That’s my way of trying to reign my spending back in.
PHILIPPA: You two have experienced jobs. Obviously, you worked a long time for your employer, so I’m assuming they had to pay you a big fat redundancy check for you to go.
ELEANOR: I’ve been there nearly 25 years. I had a cushion. But what I see with many women within my community is this, and we really encourage it, is that idea of having a walk away fund so that you do have some choices or if the worst thing happens, you have a nest egg.
Everyday networking
ELEANOR: I also think that in today’s world, it’s always good to have a bit of a side hustle. Actually, what saved me was that I did have a side hustle. I’d been Chair of Women in Journalism for the last seven years. When I lost my job at the Sunday Times, I had a whole network of people, and I stood for something which wasn’t just me and the job that I had.
Because I think too many of us, and particularly women, put a lot of effort into networking within their own company or chatting people up in their company, but they’re not thinking of that more broad network. I think that what saves you when you get made redundant, and there’s a lot of evidence of this, [is] that you’re five times more likely to get a job through someone in your network than you are from just applying cold. I think it’s really thinking about enriching all those ties that might help you if you suddenly lost your job tomorrow.
EMMA: In regards to networking, I think sometimes people can get a little bit caught up in that networking needs to be specifically with employment. You don’t realise, I don’t know, just doing social activities, they might start a conversation with someone, “oh, you’re working in the field that I want to work in. Let’s swap numbers. Let’s have a chat. What do I need to do to get into that?”.
People don’t realise that it could just be a question away or it could be a meeting away. It doesn’t always have to be in a massive hotel - I think, champagne dinner thing, you might just be sitting next to someone on the bus and start a conversation. You’re like, “actually, great contact. Let’s keep in touch”.
ELEANOR: It’s those loose connections.
JIMMY: I also think the key thing to do is go out to your friends and to people that you’ve worked with before and say, what do you think I’m good at?
ELEANOR: Yes.
JIMMY: Because actually -
PHILIPPA: - that’s a really interesting idea. Your own skills audit.
JIMMY: It’s really hard sometimes to be self-analytical of your own skillsets. And also you have a tendency to think of the stuff that you’re good at, is that everyone’s good at and they enjoy as well. And that’s actually not true. We’ve all got different makeups and different brains and so on. So I think that’s my tip to try and do that. You go for lots of coffees with people and try [to] get feedback on yourself.
PHILIPPA: When it happened to you, though, I know you knew at some point it was going to come because of the nature of the work you were in. But when it was that day.
JIMMY: Yes.
PHILIPPA: How did it feel? I bet it was still somehow a shocking experience.
JIMMY: Yeah, it felt very - that has been my life and that has defined me.
PHILIPPA: Now what?
JIMMY: Jimmy from Number 10, right? And now you’re just Jimmy.
ELEANOR: It’s really hard when a big plank of your life is suddenly ripped out from under you. And the first thing to do is just to pause and to be kind to yourself. So I started swimming in the pond on Hampstead Heath every day when I was made redundant. That shot of joy kept me going.
Reframing the shame around redundancy
PHILIPPA: It’s true, though. It’s an injury, isn’t it?
ELEANOR: It’s a wound!
PHILIPPA: It’s an injury that’s inflicted on you. Personal, professional, financial.
ELEANOR: And shame! There’s a big amount of shame in this. When I first left the Sunday Times, I wrote about how it felt to be made redundant in The Telegraph. I had about 10,000 people get in touch with me saying, “it’s a bit like death. Nobody wants to talk about it. Nobody wants to come near you; feel a bit like you’re contaminated”.
PHILIPPA: Still?
ELEANOR: Yes.
PHILIPPA: It’s such a common thing.
ELEANOR: No, but the shame around redundancy is huge. That’s why, and it’s partly why I wanted to come on this podcast to talk about it, because people don’t talk about how awful it feels. What I’d say to people is, take a breath, remember that you were only able to do that thing because you have some innate qualities.
PHILIPPA: Well, that brings us to support, doesn’t it? Because as you say, there’s a lot of support out there, and you don’t necessarily have to pay for an expensive career coach to get it, do you? There’s lots online, of high-calibre support, career coaching. No, you’re looking dubious.
JIMMY: No, do you want to know something that I did the other day with ChatGPT?
PHILIPPA: Oh, yeah.
JIMMY: I said, take everything you know about Jimmy McLoughlin and everything that I’ve spoken to you about -
PHILIPPA: - that was bold.
JIMMY: - and predict my career for the next 30 years.
PHILIPPA: That’s such an interesting thing.
ELEANOR: What did it say?
JIMMY: Well, it was fascinating, because it was like reading potentially the future and all the different paths you could do. Also what it made me think afterwards, was actually it’s not that impressive what it did, because it knows I’m interested in media and politics and entrepreneurship. So actually -
PHILIPPA: - you’d told it everything about yourself?
JIMMY: Well, I talk to it semi-regularly and whatever. It knows who I am. It knows I do the podcast.
PHILIPPA: But if it didn’t, if you came to this new, you just sit down and tell it everything about you.
JIMMY: But I think it’d just be like, “act as a careers coach for me. Ask me 10 questions”, and it’ll be amazing the prompts that it comes out with and so on.
PHILIPPA: Because we talk about this because we use AI, but lots of people don’t ever use it. So you can do this, it’s free?
JIMMY: You can do it, yeah. Or you pay for a premium account, £15 a month or whatever it is. You have access to quite a good careers coach there for quite a, at least to get -
PHILIPPA: - a starter.
JIMMY: A starter. It’s a good place to start.
PHILIPPA: Obviously, there are lots of caveats around the accuracy of stuff that you might get back from AI. But I think it is good on that practical front, isn’t it, Emma?
EMMA: Yeah.
PHILIPPA: Getting your ducks in a row.
EMMA: Yes. I think it’s a good place to start with the research and then go from there. It helps you. I think it makes it a little bit less scary because I know when you type things into Google, it’s like thousands of pages. It can be overwhelming.
PHILIPPA: OK. I’m getting a strong feeling that we’re going to talk about this for a whole other hour. So thank you very much, everyone. It’s great having you with us.
EMMA: Thank you for having us.
ELEANOR: Yeah, it’s been great. We’re going to talk about it all day.
JIMMY: Really, really enjoyed this.
PHILIPPA: If you’re enjoying this series, please do rate and review us so other listeners, just like you, can find us. If you’ve missed an episode, don’t worry about it. You can catch up anytime on your favourite app. We’re on YouTube, we’re in the PensionBee app, too, if you’re a PensionBee customer.
Next month, we’re going to be discussing the single tax. How much is it costing you not being coupled up? Just a final reminder, anything discussed on the podcast shouldn’t be regarded as financial advice or as legal advice. When investing, of course, your capital is at risk. Thanks for joining us. I’ll see you next time.
Risk warning
As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.
Period | Market Event | FTSE World TR GBP (%) | 4Plus Plan (%) |
|---|---|---|---|
4Plus Plan’s inception – 6 Sept 2013 | QE Tapering, China Interbank Crisis and its aftermath | -5.44 | -2.41 |
3 Oct 2014 – 15 May 2015 | Oil price drop, Eurozone deflation fears & Greek election outcome | -5.87 | -1.77 |
7 Jan 2016 – 14 Mar 2016 | China’s currency policy turmoil, collapse in oil prices and weak US activity | -7.26 | -1.54 |
15 June 2016 – 30 June 2016 | BREXIT referendum | -2.05 | -1.07 |
