Day: December 17, 2019

    The pound against the US dollar (GBPUSD=X) dropped by over 0.3% on Tuesday morning after prime minister Boris Johnson made a major move to guarantee Britain will be dragged out of the European Union by 2021. The pound held up over the key $1.31 mark, trading around $1.32, but has been steadily sliding since Friday when Johnson’s Conservative party secured a major win at the general election. The transition period. This is set to conclude in December 2020. It can be extended for up to two years, if both the UK and EU members agree. If that was to happen again, Brexit could be delayed. However, Johnson’s government is aiming to add a new clause to the Brexit bill to make it illegal for parliament to just that. This week, the House of Commons is set to vote on the am...

    The first day back in parliament after last week’s general election saw 140 excited new MPs travel to Westminster to start their new jobs. Less conspicuous were those quietly packing their offices and saying goodbye to the building that, in some cases, they had worked in for decades. Of the 73 sitting MPs to lose seats in this election, 46 were Labour, seven were Conservative and six were Liberal Democrat. After the blow of being turfed out by constituents, former members of parliament are given a week to pack up their belongings before their security passes stop working on 19 December. For Tom Brake, the longest-serving Lib Dem MP ahead of Thursday’s vote, his first task after losing his seat of Carshalton and Wallington after 22 years was to talk to his staff abou...