Can a UK election help Brexit? Prime Minister Teresa May has called a snap general election in the United Kingdome for June 08th. It is believed that with the Labour party, (the leading opposition party) in the UK, 20 points behind the Conservatives that a decisive win will strengthen their mandate allowing a more orderly withdrawal than might otherwise occur.
Teresa May had repeatedly said that she would not be opportunistic and call an early election, however, this does mean that if she wins, she will be in the middle of her 5-year term when some of the key European figures in Brussels will be involved with their own elections.
Whilst I hope that a strong mandate for Teresa May will strengthen her position when negotiating in Brussels, I do not believe that she should accept a bad deal for Britain. Yes in an ideal world the United Kingdom would like to have free access to the Common Market whilst being able to restrict immigration to a level that was in the United Kingdom’s best interest. But this is not wanted at any cost, no deal may be better than a bad deal.
Whilst it is true that the European Market is the United Kingdom’s biggest trading partner, with Sterling falling 20% against the Euro, even with WTO import tariffs charged on our products they will be far cheaper and more competitive than before Brexit. So I am unsure if we reverted to WTO rules if they would have the massive negative issues on the economy that have been predicted. After all, the cost of cheap international courier services is so competitive that some delivery costs are almost as cheap as sending domestically. With technology helping to increase the level of online orders, international orders are growing for exporters and to send a parcel to the USA is now costing under £20 meaning that USA consumers will continue to source products from the UK for many years to come.
I, therefore, believe that if Teresa May cannot get a good deal from the EU, instead of paying huge penalties to the EU for leaving that no deal, and reverting back to WTO rules might be the best course of action for the UK. This election will probably give her a clear mandate to negotiate a deal, you can only do this if both sides are prepared to compromise. With the EU clearly not wanting to make the option of leaving the union to look attractive to other EU members, they may not want to reach a deal that is reasonable to the United Kingdom. Which will not be a fault of the UK, but just a result of the political situation the EU is in. However for the above reasons I a no deal spells the end of our economy, on the contrary, it might just be the best result that we can get.