Election will not break Brexit deadlock, say majority of Brits
The majority of Brits think the upcoming General Election will not break the Brexit deadlock as Prime Minister Boris Johnson hopes it will, a new poll has found.
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MPs voted overwhelmingly for a 12 December election yesterday. Johnson is set to campaign on the basis that a Conservative majority will take the UK out of the European Union via his new Brexit deal.
A new report from pollsters YouGov showed Britons are unconvinced by this argument, however. In the poll, 57 per cent of people asked said they thought the 12 December election will not resolve the issue of Brexit.
Only 18 per cent of people said they think it will, with 25 per cent saying they were unsure.
Although Johnson’s Conservative party has a convincing lead in the polls, the result is far certain. Theresa May gave up a similar lead in the 2017 General Election, which produced a hung parliament.
“The only thing that is certain now is that the UK is not leaving the EU before the end of the year, and all other options are up for grabs,” said Fiona Cincotta, senior market analyst at online trader City Index.
“The UK could end up yet again with a hung Parliament which will make any Brexit-related decision making very hard,” she said.
Sterling was in a holding pattern against the dollar today as traders brace themselves for six weeks of volatility. It stood at $1.287 at 5pm.
The outcome of the election will have dramatic effects on the UK economy, no matter what happens.
Paul Dales, chief UK economist at consultancy Capital Economics, said: “The economy and financial markets may either have to cope with a combination of a hardish Brexit and business friendly policies under the Conservatives or a softish Brexit and business unfriendly policies under Labour.
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“That limits the upsides for equities and the pound whatever the election result.”
(Image credit: Getty)