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UK general election: what happened and what does it mean for Brexit | bestbrokers.co.uk

UK general election: what happened and what does it mean for Brexit

Labour leader Jeremy Corbyn had long waited for it, Conservative PM Boris Johnson enabled it in an effort to break the Brexit deadlock: UK voters headed to the polls on Thursday, December 12 for the second general election since the Brexit referendum.


This is a companion discussion topic for the original entry at https://www.bestbrokers.co.uk/blog/2019/12/17/uk-general-election-what-happened-and-what-does-it-mean-for-brexit/

In clear contradiction of what seems to be propounded in the full article by ‘Cecilia’ if anything, and to the impartial bystander, the election result can be clearly interpreted as a total endorsement by the electorate of the original referendum result.

The ‘ will of the people’ has not changed since March 2016 - quite the opposite - whichever way you may care to try and spin the result, it is now even more clear that there is, and has been, a firm resolve by the majority of the nation to demand that the politicians stop dithering and prevaricating in their efforts to thwart a Brexit, and instead turn these energies into a true democratic process, and to finally get on with what was initially voted for.

To resurrect talk of the Leave campaign being ‘ somewhat fishy’ is yet another red herring (pardon the pun).

Of course both sides were guilty of scaremongering, primarily as they were both so out of touch with grass roots feelings that to seriously contemplate any change to the then status quo was pure anathema to them. Whereas the good old general populace had their ears very firmly to the ground and understood matters more concisely and saw beneath the emperor’s new clothes (the political scenario) for the increasingly great EU betrayal they had become.

I also note that it is asked in the article that “can your average citizen truly grasp what Brexit entails short and long term?”. Hopefully this is a rhetorical question as it seems to echo similar sentiments to those encapsulated in the alleged words of one of the prospective next Labour leaders whom is reported to have told one of her colleagues that ‘I’m glad my constituents aren’t as stupid as yours.’.

This is exactly the kind of arrogance that is perpetuated by our ‘glorious’ leaders - once they get their feet on the first rung if a self-perceived ladder of virtue they forget that they too were recently once one of the ‘great unwashed’ electorate that they now seem to pay little heed to.

Quite clearly the politicians themselves have little grasp of what Brexit entails in the short or long term – how could they without a time-machine or crystal ball? So why on earth the writer should expect the average citizen to be any different one can only wonder.

But, lest we forget the politicians have had since June 2016 to decipher the possible ins and outs of a Brexit and had the same amount of time to pass their findings on to their constituents - but few if any have! They’ve been more hell-bent on point scoring against each other.

Whilst, in the meantime, the more discerning of the British public citizens - and there are great deal more of them around than it would seem are being given credit here - have mulled matters over for themselves and decided that whatever the outcomes of Brexit, in the short or long term, they can and will deal with them, it is the uncertainty being caused by the Brexit delay that is more damaging to economic recovery and certainty and they want no more of it.

The simple fact of the matter is that the people are prepared for any challenge this might throw up. Notably to date the majority of problems predicted by the doom merchants have yet to materialise or have so far been caused by the politician’s infighting thereby delaying democracy which has inevitably manifested itself through unnecessary economic uncertainty.

So, moving onwards into 2020 – obviously for GBP investors, Brexit will remain the key issue and, despite his landslide victory which allowed Johnson to pass his EU Withdrawal deal with little or no interference, the negotiation detail for the withdrawal is yet to come. In what is termed as phase two of the talks, the UK has to attempt to agree the terms of a trade deal and any future relationship with the rest of the EU in the following eleven months.

Many still see the possibility of a no-deal Brexit at the end of 2020 if the British Prime Minister pushes ahead against and through any further delaying tactics – this is seen by many analysts as a real threat that will loom throughout the year over the pound. This is also to be coupled with the prospect of a new Governor at the Bank of England in March and an expected first half of the year rate cut

Whilst on the other side of the channel for 2020, any Euro movement will remain largely dependent on European Central Bank decisions. With Germany suffering austere economic measures, as it verges on recession, the Eurozone is looking increasingly delicate thus ensuring the ECB, under the new helmsman ship of Christine Lagard, will have a lot on its plate as they review their strategy.

Across the Atlantic too, politics plays a significant part in the outlook for the USD movement as they feel the impact, and possible economic disruption, from both the ongoing impeachment proceedings against Donald Trump and the impending 2020 Presidential election.