Britain adds to global uncertainty

The Economic Times

Britain adds to global uncertainty
21,Oct,2019

Britain adds to global uncertainty

The last weekend’s developments on Brexit — the vote by the House of Commons to delay decision on Prime Minister Boris Johnson’s new deal, the unsigned letter from 10 Downing Street to the European Union asking for an extension beyond October 31, and a letter from Prime Minister Johnson to European Commission President Donald Tusk effectively asking the European Union not to grant an extension — encapsulate the political turmoil that has come to define the world’s oldest democracy over the past three years.

The 27 members of the European Union will now decide on whether to give Britain an extension. Meanwhile, the British Parliament will begin its process of considering the new withdrawal agreement. The failure to secure either an extension or approval will mean a no-deal Brexit. The consequences are likely to be severe disruption. While the political turmoil is unmistakable, it is not clear where the people stand on Brexit after nearly three-and-half years of uncertainty and discussion. In June 2016, 52% voted to leave the EU as against 48% who voted to remain. It has become clear in the course of extended public discussion that Brexit would have an adverse impact on every sector of the economy, public institutions, policy and legal system, including another move for Scottish Independence. Perhaps it is time for the political leadership to hear what their constituents have to say given all the new information that is available to them.

The political turmoil in Britain should serve as a cautionary tale. This is what happens when the political class puts party interests ahead of the country. Political parties must learn that the no-holds barred approach to gain and retain power will eventually undermine the integrity of the very system that enables them.

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