Member News

Update on Brexit from EY

ey alert brexit update

Boris Johnson has been elected the new leader of the conservative Party and has replaced Theresa May as British Prime Minister. Since his appointment Johnson has continued to reiterate his “absolute commitment” to removing the UK from the EU on 31 October. Johnson has pledged to abolish the “undemocratic backstop” and has reshuffled his cabinet - those that refused to sign up to his pledge to leave without a deal resigned from their positions or were sacked. In further commitment to leaving the EU, the UK will not nominate a UK Commissioner for the new European Commission.

Following the news the EU have continued that the Withdrawal Agreement is not up for renegotiation. With a working majority of two, Johnson will have to find a way to unite remainers and leavers to win a majority.

It’s very difficult to see the PM rolling back on his pledge for the UK to leave on 31 October, unless bounced into doing so by the UK Parliament. No Deal remains the legal default on 31 October and it’s clearly now one of the more likely outcomes.

Read our latest Brexit Update here.

 

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