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FX.co ★ Boris Johnson: UK to prosper with no-deal Brexit

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Forex Humor:::2020-10-13T06:17:39

Boris Johnson: UK to prosper with no-deal Brexit

Boris Johnson, Prime Minister of the United Kingdom, believes that the country does not need the trade agreement with the EU and will be able to do well even if there is no deal after the transition period ends. According to Johnson, the UK would "prosper" even in case of a no-deal outcome.

A transition period for Brexit is in place until 31 december 2020. So far, trade talks between London and Brussels have been with mixed results. The British prime minister acknowledges that the parties can reach a compromise and sign a trade deal. However, there are several important issues that need to be discussed before that.

At the same time, a new Scottish independence referendum may become the deal breaker. Boris Johnson reckons it is the wrong time for making as fateful decisions as this one. He is sure that in the light of general uncertainty and political turmoil, a new referendum in Scotland will only exacerbate existing problems. He disagrees with the leaders of the Scottish National Party who argue that a referendum should be held once in a generation.

Nevertheless, the prime minister does not exclude fundamental changes in this matter. He suggests that Brexit offers wonderful opportunities to the Scottish economy. Thus, the Internal Market Bill acquires great importance as thanks to this law Scotland will be granted special privileges, including fisheries management. According to Boris Johnson, this is the most controversial aspect since the Scottish National Party does not object to the EU control over the country’s fishing industry.

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