After a disastrous snap election put the British Conservatives on the back foot, things have gotten significantly worse for the party in the past few days.
Prime Minister Theresa May addressed her party in what proved to be a calamitous speech, filled with heckling, coughing and a disintegrating stage.
In politics, where optics mean everything, it showed May in a weakened state. The threat now is that public and party opinion will turn even more heavily against the Prime Minister. Forbes reports:
Will there be a leadership challenge? Well, yes, eventually. Mrs. May’s hold on power has been tenuous ever since the disastrous election in June 2017. This speech was her opportunity to rally the faithful around her leadership. She failed in this, just as in the election she failed to win the big majority she wanted.
This is a scathing review of her performance, but the long term effects could be even worse. A leadership race in the fractured Conservative Party could lead to a completely disorganised Brexit, as varying political and economic positions vie for control and the threat of another election looms.
To make matters even worse, The Financial Times reports that:
The Trump administration has joined a group of countries objecting to a deal between the UK and EU to divide valuable agricultural import quotas, in a sign of how the US and others plan to use Brexit to force the UK to further open its sensitive market for farm products.
This complicates Britain’s exit from the EU even further and comes just as May is at her weakest. There are harder battles for Britain to be fought in the future, and now there are more questions than ever over the quality of their leadership.
Investors should take time to ensure that they are insulated from these new developments. The political and economic situation in the UK may deteriorate if this situation continues to get worse in the coming months.
To watch The Telegraph’s video on Theresa May’s speech on their YouTube channel, click here.
To read Forbes’ article on the UK’s political crisis, click here.
To read The Financial Times’ article on Trump opposing the EU-UK trade deal, click here.
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=BKTzq&webforms_id=14431602″ css=”on” center=”off” center_margin=”200″/]
You may be interested
Job Hiring is Picking Up as Employers and Consumers Gain ConfidenceLamont J - March 29, 2021
The recent government stimulus for small and medium-sized businesses, personal stimulus checks, and declining Coronavirus cases, are all great news…
Fed Could Maintain 0% Interest Rate Until 2024Adam R - March 26, 2021
The Federal Reserve is holding its target interest rate in a range of 0.00% - 0.25%, even while the economy…