The government lives to fight another day
17 January

The government lives to fight another day

The government lives to fight another day after PM Theresa May survived a vote of confidence thanks to the backing of the 10 members of the DUP, while we still have no solution in sight to Brexit, and Labour leader Corbyn still sees the chance of a no-deal Brexit but the market is pretty sanguine to this possibility. 

 

Sterling remains at its recent higher range this morning despite the leader of the opposition refusing to enter into cross-party discussions until the threat of a no-deal is taken off the table - does he really believe this to be a possibility or is this just political posturing? However, maybe there is a no-deal twist still to come. German industry chiefs called on their politicians to do all they can to avoid a no-deal, reinforcing the point that German industry very much needs our market and our importance could be used as the stick to threaten the EU with. In the meantime it seems likely there will be an extension of the March exit date, with PM Theresa May now pushing for what she calls "constructive spirit", putting “self-interest aside”; "It will not be an easy task, but MPs know they have a duty to act in the national interest, reach a consensus and get this done," she said.

 

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