It was the first December election for almost 100 years, turnout was slightly down on 2017 with 67.23% in comparison to 68.7%, but the message from voters was clear – it is time to “Get Brexit Done”
Biggest Majority Since Margaret
After much uncertainty and anticipation, Boris now has the majority needed to pave the way for his “oven ready” deal to be passed. At last, we can see an end to political gridlock in Westminster.
Mr Johnson becomes the first Tory to win with a majority like this since Margaret Thatcher in 1987.
Leading with his unwavering stance on Brexit, Mr Johnson swept Labour aside in their own strongholds, making Jeremy Corbyn collateral damage in the process – you cannot deny the electorate sent a clear message with Labour held constituencies since the 1930s turning blue.
Good News For The Markets
It was an exciting night for the markets which saw surges of up to 5%, and a rising pound, which started with the announcement of the exit poll.
The election result has seen the value of the pound soar, gaining 1.9% against the dollar, the highest level since May 2018, better still it is at a 3.5 year high against the Euro. We have also seen reports of the FTSE 100 rising by 1.5%, with the FTSE 250 hitting a record high of a 4% rise.
The threat of Nationalisation under a Corbyn led Government had caused recent uncertainty for some politically influenced shares, but banks, utility providers and house builders all saw a rise with Persimmon benefiting from a surge of 10% which has continued to rise to 16% by 8am this morning, Lloyds and RBS have both gained 9-10% with the election result.
Of course, the rising pound has had implications for those who trade overseas, as the earnings are cut once brought back to the UK and converted into sterling.
As we all know, the Chancellor, Sajid Javid who held his Bromsgrove seat with an increased majority, delayed his autumn budget due to the uncertainty of Brexit, we now wait with bated breath to see what will follow for the economy once Brexit is done.
What happens next remains to be seen but one thing appears to be certain, Britain will leave the EU by the 31st January, according to Mr Johnson.