It’s early days for the UK’s new leadership team, and whilst Boris Johnson is not everyone’s cup of tea, there is a new momentum and style coming from Downing Street. This will have implications on further turbulence in Westminster over the coming weeks as we count down towards the latest Brexit deadline of 31st October 2019. What can be said is that the Cabinet is united for the first time since the Referendum, and that there is a revived sense of purpose and activity.
The leadership tussle between Boris Johnson and Jeremy Hunt is entering its final throes, but whoever wins will have a series of challenges to face; convincing new EU leaders that a no-deal Brexit is real, getting Parliament to acquiesce and accept that the UK is leaving on the 31st October; avoiding a General Election; and mobilising the nation behind the exit. His most important task, however, based on the opinions of industry leaders, is “the urgent need to restore confidence” in the economy and in political decision-making.
May is over, Theresa fell too, and so too did the Index of Britain’s health.
This month there was not much movement across both economic and political measures as the UK took a breather after the trials and tribulations of March and April. A welcome period of stability, you might say.
This month the Accountagility Index (AAX) moved up six basis points to 5.09. Last month it was 5.03. The Index records UK political and economic health in a score out of ten. Any score below 5.00 is negative. Given the torrent of bad news, this move upwards may seem counter-intuitive.