By Chris Downing – Director
So, after much debate, we now know that Boris Johnson will be the next Prime Minister of the UK. One thing we do know for sure, is that we have someone who isn’t short of an opinion!
There is of course one key issue which will likely dominate Mr Johnson’s reign, as it has for Theresa May and that’s the issue of Brexit.
Whilst everyone no doubt has their own political views on the subject, the one thing that business now needs is certainty. If election policies are to be believed, one way or another we will have a form of Brexit delivered by 31 October. Whether there will be cooperation or further obstacles put in the way of this, remains to be seen.
Of almost equal significance for business owners is the news that we will also see a new Chancellor, following Philip Hammond’s resignation as part of the leadership result. Over the past couple of years, whether you agree with the policies or not, Mr Hammond has delivered relatively stable budgets with few shocks for businesses. We will wait to see who Boris Johnson names as the new Chancellor, but we can only hope they follow Hammond’s lead and allow business space and support during the challenges that will inevitably follow Brexit.
Interestingly, there is no date set for the 2019 Budget (which was held on 29 October last year) and given the 31st October deadline for Brexit, I would imagine that we won’t see a budget produced until November at the earliest.
We will of course keep you updated on any developments and let you know when the budget is going to take place.