Investors eyes on Brexit

The Telegraph, a well-known British newspaper reported late on Sunday that Prime Minister Boris Johnson has prepared a legal strategy to counter opposition lawmakers’ attempts to enforce a three-month extension to Britain’s Brexit deadline if no-deal is agreed by October 31.

 Johnson suffered another blow over the weekend after Amber Rudd, the government’s work and pensions minister, resigned and left the ruling Conservative party, accusing the prime minister of showing no evidence of working toward a new Brexit deal with Brussels.

Moreover, today all eyes remain on Brexit and whether a snap election will be called as UK lawmakers are casting a second vote today.

 The Conservatives would have an overall majority of seven (assuming that Sinn Féin’s MPs, excluded from the table, continue to boycott Westminster). If the Democratic Unionist Party continues to support Johnson’s Brexit policy, the government would have a majority of 27 on the big issue of our time.

 Meanwhile, if tactical voting had the same impact as in 1997, the Conservative Party would have only 295 MPs. Even with the support of the Democratic Unionist Party, they would fall well short of the number needed to remain in office. The combined total of the anti-hard-Brexit parties would be 337. If they were able to join forces, they would have a majority over the Conservative Party and Democratic Unionist Party of 33.

 Based on the Conservative Party’s current 10-point lead, a tactical voting loss of just 15 seats would ensure that the Conservatives and Democrats together lack the numbers in parliament to pursue Johnson’s Brexit strategy. However, if the Brexit party is longer a threat in the Conservatives’ target seats, it is quite possible to see the Conservatives winning 350 or 360 seats, in the absence of tactical voting.