- DATE : May 28, 2019
The results of the EU elections could become a turning point in the ongoing Brexit debate, with the six-week old Brexit Party securing 31.6% of the vote. The Conservatives and Labour have both haemorrhaged support whilst the pro EU Liberal Democrats made substantial gains. Support for the collective ‘anti’ and ‘pro’ Brexit parties, was around 40% and 35% respectively.
These results will no doubt impact the arithmetics in Westminster. So far Parliament has been unable to find common ground on any Brexit option, other than the rejection of a no deal-but this may be about to change.
Until very recently, Labour was non-committal on a second referendum and appeared to prefer an early general election, whilst the Conservative Party was split between ‘remainers’ and ‘brexiteers’.
A new perceived ‘threat’ in the form of the Brexit Party potentially replicating its success in a general election, may force both parties to abandon the middle ground in favour of a clearer and more decisive stance. This would avoid an early general election and the possible embarrassment that could follow, and hopefully provide some much needed clarity to the market.