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New UK Prime Minister imminent as Brexit woes continue

The Conservative leadership contest finally draws to a close with Boris Johnson or Jeremy Hunt set to succeed Theresa May, but neither candidate offers a solution to break the Brexit deadlock.

Boris Johnson Source: Bloomberg

The Tory leadership contest nears its end on Monday, with voting set to close later, with the UK’s next prime minister to be announced on Tuesday.

Boris Johnson – the frontrunner – and Jeremy Hunt are the last two candidates hoping to succeed Theresa May, with the winner set to enter Downing Street on Wednesday.

Conservative ministers threaten to resign if Boris Johnson enters Downing St

Several senior Tory MPs, including Foreign Office minister Sir Alan Duncan have vowed to resign in protest if Johnson becomes the next prime minister.

Chancellor Phillip Hammond told the BBC on Sunday that he also plans to resign from his cabinet position if Johnson succeeds May on Tuesday, with Justice Secretary David Gauke echoing similar sentiments last week.

The senior Conservative ministers have made it clear during the leadership race that they cannot support Britain bailing out of the EU in a no-deal scenario on October 31, with Johnson making that prospect increasingly likely if he enters Downing Street on Wednesday.

Boris Johnson: Britain will leave the EU with or without a deal

Writing in the Daily Telegraph, Johnson said that a no-deal Brexit could be avoided before the October 31 deadline, so long as Britain ‘rediscovers its sense of mission’.

However, despite his optimism, Johnson is yet to provide any clarity as to how such a deal will be reached with the EU, nor how he plans to produce a withdrawal agreement capable of breaking the Brexit deadlock in the House of Commons.

Regardless, Johnson has remained adamant that the UK will leave the EU with or without a deal on October 31.


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Trading around Brexit

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