Another week, another Brexit delay. EU leaders have decided to wait until after the election vote next week before saying how long may be acceptable for another delay. Despite some tough words from France, it seems unlikely they will be so unreasonable as to force the UK to emergency measures to avoid being ‘thrown out’. Meanwhile Jeremy Corbyn and the Labour PLP are caught in “the Cummings Trap”, the party that says “no”.
We wrote before that the Boris Johnson story would mark the closing chapters of Brexit – but that an exit by the end of October was unlikely, his preference for being dead in a ditch aside.
If the Prime Minister gets his election on December 12 after having delivered on his Brexit promises, it would most likely give us significantly reduced levels of near-term uncertainty, which would be a considerable positive for both the UK economy and its stock market.
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