InvestorQ : Was the BREXIT voting scuttled by the Labour party and what are the options in front of Boris Johnson now?
Tisha Malhotra made post

Was the BREXIT voting scuttled by the Labour party and what are the options in front of Boris Johnson now?

Moii Chavate answered.
3 years ago

If you had followed the campaign of Margaret Thatcher in the late 1970s, she had romped to power with a simple slogan, “Labour does not work”. That is proving itself all over again. Jeremy Corbyn has to be blamed for this consistent deadlock as the Labour party has been delaying the BREXIT process without any alternative solution offered. Labour wants another referendum but that is meaningless when the people of UK have already given their unequivocal verdict in 2016.

Those who propound the theory that BREXIT would create chaos would do well to remember the case of the British Pound. Similar concerns were raised when the UK left the common currency (rather was forced out by George Soros) in 1992. Over the last 25 years, the GBP has only emerged stronger and with a clearly independent monetary policy. The risks to the UK are more on trade but that can be easily handled with independent trade deals. It needs to be remembered that BREXIT has a cooling period of one year and that can be renegotiated. It would have actually suited the people of UK and the world economy to just go ahead and get done with BREXIT on October 31; which could still happen.

What are the real options in front of Boris Johnson? Public sentiments are clearly with Boris Johnson and the Conservative Party so any snap election called in the UK would clearly favour the Conservative Party. UK should stick to the October 31 deadline and get done with BREXIT. It is highly likely that if the UK offers EU unfettered access to its financial markets, the EU would also be keen to offer trade preferences to UK. People realize that the bargaining chips are in the hands of the UK and with the current EU slowdown, they can ill-afford any real misadventure. London still remains the gateway for the world into Europe and above all, UK is the one country that can help the EU to resolve its fractured relations with the United States under Donald Trump.