Brexit delay and UK elections: what happens now?

Cecilia04/11/19 (updated 5 years, 6 months ago)brexit, election, general election, Boris Johnson, Jo Swinson, Jeremy Corbyn

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Last week has seen many new developments for the UK, with yet another extension to Brexit granted by the EU and the announcement of snap general elections before Christmas, on December 12^th.

Brexit extension

British MPs backed PM Boris Johnson’s bill to hold general elections on December 12^th, 2019. This follows the EU’s agreement to grant a Brexit “flextension” to the UK, who is now set to leave the European Union by January 31^st, 2020. If an agreement is reached before then, the UK is free to leave anytime before January 31^st.

UK general elections

The bill for an early election has been submitted and approved by MPs on Tuesday and by the House of Lords on Wednesday which means Parliament should be dissolved next week, on November 6^th, ahead of the general election on December 12^th.

Depending on the election results, here are the possible outcomes for the UK:

• The UK leaves the EU by January 31^st with Boris Johnson’s deal;
• The deal is renegotiated by the new government and submitted to Parliament;
• A referendum takes places, either asking the population to choose between Leave and Remain (identical to the one of 2016), or to choose between a specific deal and Remain (Final Say vote) – either would most likely require another extension from the EU;
• The UK leaves the EU without a deal which is the default outcome if Parliament does not agree to a deal by January 31^st;
• The new government revokes article 50 and Brexit is cancelled.

Where does each political party stand?

As the UK population is preparing to head back to the polls, here are the UK’s political parties’ stances on Brexit.

Party	Leave Our selection of verified and recommended brokers: Here are the brokers that our experts have rigorously hand-picked and verified to help guide you towards your financial goals with confidence and peace of mind. 🥈 Trading 24 hrs, 5 days a week Quality customer service 🏆 Advantages Minimum deposit: £0 Spreads: 0.5 pip on S&P 500, 1 pip on FTSE 100, 1 pip on CAC 40 Open and close your positions 24/5 Trading simulator with £10,000 virtual funds Integration with TradingView and ProRealTime Over 50 years of expertise Learn more View the offer 🥇 Zero commission shares Recommended broker 🏆 Advantages Min deposit: £10 Spreads: 0.1 pip on eur/usd and eur/gbp, 0.3 pip for the sp500 and 0.8 pip for the FTSE 100 Buy shares and ETFs with no commission Online courses for investors of all levels Demo account with £20,000 virtual funds Learn more View the offer 🥉 Ideal for CFDs Ultra-low spreads 🏆 Advantages Minimum deposit: £0 Spreads: 0.5 pip on EUR/USD, 0.45 pip on FTSE 100 and 0.8 pip on EUR/GBP and EUR/CHF Over 20 years of experience Fund protection up to 1 million GBP Ultra-competitive spreads Advanced chart analysis with TradingView Learn more View the offer 🥈 Trading 24 hrs, 5 days a week Quality customer service 🏆 Advantages Minimum deposit: £0 Spreads: 0.5 pip on S&P 500, 1 pip on FTSE 100, 1 pip on CAC 40 Open and close your positions 24/5 Trading simulator with £10,000 virtual funds Integration with TradingView and ProRealTime Over 50 years of expertise Learn more View the offer 🥇 Zero commission shares Recommended broker 🏆 Advantages Min deposit: £10 Spreads: 0.1 pip on eur/usd and eur/gbp, 0.3 pip for the sp500 and 0.8 pip for the FTSE 100 Buy shares and ETFs with no commission Online courses for investors of all levels Demo account with £20,000 virtual funds Learn more View the offer 🥉 Ideal for CFDs Ultra-low spreads 🏆 Advantages Minimum deposit: £0 Spreads: 0.5 pip on EUR/USD, 0.45 pip on FTSE 100 and 0.8 pip on EUR/GBP and EUR/CHF Over 20 years of experience Fund protection up to 1 million GBP Ultra-competitive spreads Advanced chart analysis with TradingView Learn more View the offer	Remain	2^nd referendum
Conservatives	x
Labour	x		x
Lib Dems		x	x
Brexit Party	x
SNP		x	x
DUP	x
Change UK		x	x
Plaid Cymru		x	x

The Conservatives are pledging to leave the EU by January 2020 with PM Boris Johnson’s deal. A Labour government would renegotiate the current Brexit deal and has pledged to submit it to a public confirmatory vote. If elected, Liberal Democrat Jo Swinson has vowed to cancel Brexit. If the party does not obtain a majority government, they would support a second referendum. The Brexit Party wants a “clean-break” no-deal Brexit and is willing to form an electoral pact with the Conservatives – though Boris Johnson declined their suggestion earlier today. The Scottish National Party (SNP) wants the UK to remain in the EU and will support another Brexit referendum. The party is in favour of an independent Scotland, however, so there are deeper implications at stake. The Democratic Unionist Party (DUP) wants the UK to leave the EU and while it initially had an agreement to support the Conservatives, the party is displeased with Johnson’s revised Brexit deal.

The Independent Group for Change (or Change UK), made up of former Conservative and Labour MPs, want the UK to remain in the EU and are in favour of another referendum. Similarly, Welsh party Plaid Cymru is pro-Remain and would back a second Brexit referendum.