iFund- The prospect of Brexit after Johnson step into Downing Street

2019-07-25 09:39
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In order to avoid re-entering the road to Theresa May, or a shorter governor period, he must choose one of the three routes in Brexit. Deal, no deal or renegotiate deal.

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Johnson achieved his ambitions. After winning the Conservative Party election, Johnson became the next prime minister of the United Kingdom. He received about 139,000 votes from party members, a total of 66%. But his victory may be short-lived. In order to avoid re-entering the road to Theresa May, or a shorter governor period, he must choose one of the three routes in Brexit. Deal, no deal or renegotiate deal.

In early of 2018, the Bank of England Governor Mark Carney said that Brexit will cost tens of billions of pounds loss in UK’s economic activity. Bloomberg estimates that if the UK trade with the EU in accordance with World Trade Organization standards for the hard Brexit scenario, UK’s GDP will be less 6.55% by 2030 compared to the scenario that UK stays in EU. Bloomberg further points out that the hard Brexit will depreciate the currency and cause the inflation rate to rise sharply to 3.6%.

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