Sterling strengthened to a new six-month high yesterday as Prime Minister Boris Johnson pledged to deliver Brexit on time at the annual CBI conference. He also set out plans to put corporation tax cuts on hold and said that the money would be spent on public services. His speech and recent polls, which show a Conservative lead, have pushed the pound higher due to increasing expectations of a Tory majority.
As well as Johnson, Jeremy Corbyn and Jo Swinson also made speeches at the annual CBI conference. Corbyn assured that Labour’s plans for public ownership of broadband were not an “attack” on the free market, and he also set out plans for apprenticeships. Swinson said that those wanting to “get Brexit sorted” were not on the side of business, due to the negative impact she said it would have on investment and access to labour.
Tonight, there will be a televised debate between Boris Johnson and Jeremy Corbyn. The debate has the potential to shift the polls and, therefore, affect sterling’s value.
