Start Trading Now Get Started
Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Johnson Wins UK General Election

By Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.

brexitDespite suggestions from polling organisations (and bookmakers) that the lead of the Conservatives was shrinking, support for Labour was rallying and a hung parliament was a realistic possible outcome, in the event, the Conservative Party has been returned to government with a significant majority.

At the time of writing, 649 of 650 seats have been declared. The Conservative party has taken 364 to Labour’s 203, giving them an absolute majority in the Commons (326 seats is needed for a majority). They have a working majority (currently) of 79 seats which means that they will be able to push through their legislative agenda with ease.

In terms of Brexit, it now seems certain that the UK will formally leave the EU at the end of January 2020 under the terms of the EU Withdrawal Bill drawn up by Boris Johnson. This will trigger a transitional period during which the UK will continue as if it is a member of the bloc, benefit from membership of the Single Market and Customs Union, but have no say in the affairs of the EU whilst continuing to contribute to its budget. This period runs until the end of next year and can be extended if both parties agree. However, during the election campaign (and in his leadership election), Boris Johnson was at pains to pledge that he would not extend this period.

The UK and the EU have only agreed on the conditions of the UK’s separation from the bloc. The next phase of Brexit is the negotiation of the trading relationship between the two and the extent to which the UK will diverge from EU standards on goods, workers’ rights and environmental standards. This will be the tricky bit. The EU is the UK’s nearest and most important trading partner, so any divergence from the status quo will strain business links between the two and inhibit “frictionless trade” which is critical to many businesses (notably the car and aerospace industries which involve high degrees of European integration). However, the USA wants to set a free trade agreement with the UK and would expect US agricultural products (for instance) to enjoy greater penetration into the UK market. Since US agricultural standards relating to, for instance, the use of hormones in rearing animals and the use of a chlorine wash for slaughtered poultry carcasses, they do not meet current EU standards. Should the UK budge, its agriculture may struggle for access to the EU.

“Get Brexit done” was never more than a slogan. Johnson now has to deal with the nitty-gritty of the process which is usually lengthy and complex. Unless he shifts the UK’s position meaning that it will remain much closer to the EU (BINO – Brexit in name only), he risks missing the deadline of next summer when an extension to the transitional period would need to be agreed. Should this happen, the UK would end the transitional period with no deal in January 2021.

Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.

Most Visited Forex Broker Reviews