UK General Election 2017
“You’re joking, not another one? Oh for God’s sake!…”. So exclaimed Brenda from Bristol when asked, by a roving TV news reporter, for her reaction to Prime Minister Theresa May’s decision to call a snap UK General Election.
Election outcomes, by their very nature, can be difficult to predict and there will doubtless be many fluctuations in momentum before the polls close on June 8th. However, if ever there was an outcome about which a prediction could be confidently made, then this election, short of an unforeseen seismic event, provides it. Make no mistake about it, this election is all about Brexit and how the political parties and their cheerleaders wish to approach the forthcoming negotiations.
Yesterday’s local council election results may well reflect a general swelling of support for Prime Minister Theresa May and, in particular, her rallying call to voters to provide her with a clear parliamentary majority. Based on current evidence, she is likely to have her wish granted.
The outcome of the election, though important, is unlikely to result in any significant movement in the markets. This is because a strong Conservative majority has already been priced in. However, many traders anticipate a bounce in sterling on June 9th. So, if you are looking to purchase a significant amount of euros, you might want to wait until then.
Between now and then you can watch the unedifying spectacle of politicians making embarrassing gaffs. So far, Labour MP for Hackney North and Stoke Newton, Dianne Abbott, leads the charge with a spectacular car crash of an interview on LBC Radio, concerning proposed Labour spending on policing (£30 per annum for a police officer!)
Leader of the Liberal Democrats, Tim Farrons’, invitation to “Smell my spaniel,” seemed a little absurd and watching him get ambushed by an angry Brexiteer, whilst out canvassing, was pretty cringeworthy.
In the meantime, Scotland’s First Minister, Nicola Sturgeon was undermined by former leader of the SNP Alex Salmond, when she attempted to claim that SNP’s election campaign would not be about her continued demand for a further independence referendum. A point seized upon with glee by the leader of the Scottish Conservative Party, Ruth Davidson, who had only a few weeks ago during a Scottish Assembly debate, ordered her to “Sit down”.
In trying to justify a manifesto pledge to ban the Burka, UKIP leader, Paul Nuttal, was challenged by journalists to explain whether a ban on the veil would extend to bee keepers and Christian brides.
In the meantime, Leader of the Labour Party, Jeremy Corbyn, just continues to be, well, Jeremy Corbyn and as for Foreign Secretary Boris Johnson, let’s just keep him away from the controls of armed aircraft for a while.
Further updates to follow.