Brexit is marching closer

Brexit was the election issue. We all know that. Brexit is clearing hurdles and on 31st January 2020 the UK will leave the EU.

The Tories clearly saw the recent election as the opportunity to release the paralysis at Westminster and have a working majority in order to start the UK’s exit. It was a second referendum in all but name.

Labour’s scattergun policy of investing in everything, but not really committing to Brexit clearly turned off their voters whilst the Lib Dems misguided thinking regarding cancelling Brexit didn’t work either.

With its largest majority since the 87 election, Boris has the backing to drive through his previously agreed deal and start trade talks with our closest trading nations. All this is great news for UK businesses:

• Strategies can be confirmed
• Policies outlined
• Budgets agreed
• Clear direction

At MRK, we had noticed businesses were still hiring regardless but the market had gradually slowed down during the course of 2019 with the uncertainty preventing more and more employers committing to projects.

Whether you like Boris or not is a whole other blog topic but the situation we now find ourselves in offers more clarity now Boris is in place for the next 5 years there can be an element of long-term planning. For that I am very grateful.

As we witnessed when the exit poll was published at 10.05pm on 12 December, the ￡ began trading strongly against the $ and the Euro. As we know, the markets prefer a settled trading environment in which to operate although there shouldn’t’ be too much further changed as some of this “uplift” was already priced into the markets.

What happens next? Our exit from the EU will be confirmed on or before 31 January 2020 and then the horse-trading begins as BoJo and Gove negotiate (hopefully) beneficial trade deals which they are hoping will be agreed quickly. I reckon it could take years.

And where does that leave Scotland? They’ve had their independence referendum and voted against it, now Nicola Sturgeon wants another vote. Should our neighbours north of the border be granted a vote until the First Minister (at the time) gets the result they want? I’m not sure I know the answer.

One thing I do believe – let’s have one vote on things and stick to it. It all gets too painful if you start procrastinating afterwards. Imagine doing this with every business decision.