How Brexit Failed Britain | David Woo

British Prime Minister Rishi Sunak's decision to call a July 4 snap election has sparked intense debate about the future of the Conservative Party and the Labour Party led by Keir Starmer. With the G7 political pulse survey showing a stable lead for Labour, the UK market reaction is one of uncertainty. Despite an uptick in the UK’s consumer confidence and a promising British pound outlook, the Bank of England inflation challenges and rising UK core inflation remain significant hurdles. Angela Rayner Labour's promises at the Labour Party conference further complicate the political landscape. Amid concerns of UK protectionism and global economic fragmentation, the potential for a Liberal Democrats coalition or an alliance with the Scottish National Party adds to the complexity. Key issues such as the UK immigration policy, UK retail sales, and the UK employment rate will be crucial in determining the success of Sunak's economic strategy. The legacy of Brexit, championed by former leaders Boris Johnson, Liz Truss, and David Cameron, looms large, especially with the widening UK trade deficit with EU and the need for a new UK free trade agreement. What are the chances the Conservative Party can erase a 20-point deficit in the poll and cling to power? And does it make any difference which party gets to run Britain in the next 5 years? What are the challenges facing the UK economy in the new global paradigm? What is the outlook for the pound? A former top-ranked Wall Street global macro strategist tells it as it is. You may not agree with everything he says but he will make you reassess everything you thought you knew.
#UKElection2024 #BrexitImpact #RishiSunak

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