The pound was low yesterday afternoon and is down against the euro and the dollar this morning as the Prime Minister announced that he will push for a general election on December the 12th. Johnson has said that he will table a motion for a general election on Monday if the EU extends the Brexit deadline. He has also agreed to give MP’s more time to debate his Brexit deal if they back the motion for an election.
However, the chances of MPs backing this election seem uncertain. Jeremy Corbyn has reiterated his stance that Labour will back an election if no-deal is taken off of the table, and hasn’t committed to how Labour will vote if a motion is tabled on Monday.
The EU is expected to announce its decision today on whether to grant the UK a three-month Brexit extension. There have been reports that most EU nations have backed it, however France is apparently trying to push for a shorter extension. If disagreement continues then an emergency summit could be held in Brussels on Monday.
