Sterling was up against both the pound and the euro yesterday on news that the House of Lords approved an early general election, which is due to take place on December 12th. The pound is strong this morning as the campaign trail begins, with both Jeremy Corbyn and Boris Johnson setting out their stance for the weeks ahead.
The House of Lords debated and approved the general election bill yesterday, and now the Queen will formally agree to the bill becoming law. Next Wednesday, Parliament will then be dissolved to make way for 5 weeks of official campaigning.
In an attempt to unite the Conservative Party, Boris Johnson has re-admitted 10 of the 21 rebels that were dismissed last month. Former chancellors Philip Hammond and Ken Clarke, as well as former justice secretary David Gauke, have not been welcomed back. The culture secretary, Nicky Morgan, announced that she would not be standing for re-election, and said that “the abuse for doing the job of a modern MP” was one of the reasons for her resignation.
Pre-election PMQ’s took place yesterday, in which Johnson and Corbyn clashed over the NHS, Brexit and the economy.
Before Parliament is dissolved, MPs will elect a new Speaker of the House of Commons on Monday, after John Bercow announced that he would step down last month.
