Boris Johnson leads Britain to hard Brexit
As it became known on Wednesday, August 28, British Prime Minister B. Johnson asked the Queen of Great Britain to suspend the work of parliament from the middle of next month, which will limit the ability of deputies to block inaction in Brexit. This actually took about a week of work for the UK parliamentarians to find a compromise on a deal with the EU. Thus, the risks of a hard Brexit have increased significantly. The final date for Britain to leave the EU (Brexit) is set for October 31.
B. Johnson himself denies the intention to limit the actions of parliament in order to create an agreement on Brexit. Such actions caused the collapse of the British pound across the market, due to the exacerbation of the tough Brexit, which the majority in the UK government are clearly aimed at.
The British pound declined of about 1% against the US dollar on a such a decision.
British Prime Minister B. Johnson will take some necessary decisions for some time. He added that his party is putting forward new legislative programs on health and education financing. It looked like an attempt to attract the electorate before the new parliamentary elections in the UK parliament.
KEY DATES on the work of the UK Parliament:
- September 3 – MPs return from summer vacation
- September 4 – Parliament meeting
- September 5 – Parliament meeting
- week starting September 9th – parliament paused
- September 14-17 – conference of liberal democrats
- September 21-25 – Labor conference
- September 29 – October 2 – conferences of conservative parties
- October 13-15 – SNP conference
- October 14 – Queen’s speech opens a new session of Parliament
- October 17/18 – Summit of the European Council
- October 31 – UK leaves EU
Against the backdrop of the risks of a tough Brexit, political risks in the UK also increased significantly, causing a significant wave of opposition from opposition forces who spoke of a vote of no confidence in Johnson.
British Prime Minister B. Johnson has also repeatedly spoken about the intentions of the dissolution of the current parliament and early parliamentary elections in the UK. They should take place after the completion of Brexit.
As a result, Prime Minister B. Johnson and his conservative party are more focused on early parliamentary elections in the UK. They will be announced after Brexit. And in this vein, a tough Brexit is exactly what will allow conservatives to gain a majority in early elections.
In this case, the British pound expects a further decline to multi-year lows.
Anton Hanzenko