💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

Boris Johnson Faces Parliament Defeat on Snap Election: Trader’s Guide

Published 2019-09-09, 12:39 p/m
Boris Johnson Faces Parliament Defeat on Snap Election: Trader’s Guide

(Bloomberg) -- Prime Minister Boris Johnson will suspend Britain’s Parliament on Monday night for five weeks. Before that, his opponents are hoping to inflict two more defeats on him.

This is what’s coming, on a day that saw the pound rally to the highest level against the dollar since July, before paring gains after House of Commons Speaker John Bercow announced he was stepping down.

Before 7.15 p.m.: Document Release

An emergency debate aimed at forcing the government to release details on

  • its no-deal Brexit planning
  • discussions that took place ahead of the decision to suspend parliament for so long
Since Johnson expelled 21 Conservative members of parliament, he’s a long way short of having a majority, and he’s likely to lose.

Before midnight: Snap General Election

In the final debate of the evening, Johnson will make a second attempt to get Parliament to vote for a snap general election. He needs two-thirds of MPs -- 434 of them -- to vote for this. Last week he got 298, and there’s no reason to think he’ll get any closer this week.

Johnson could make a statement after the second vote. When that business has finished, Parliament will be “prorogued,” in a ceremony involving a statement from Queen Elizabeth II being read in the upper House of Lords. Parliament will be suspended.

If all goes as expected, on the six votes that Johnson has tried to win in Parliament since becoming prime minister, he will have been defeated every time.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.