Britain will pay a big price for Boris Johnson’s Brexit coup
The economy is already suffering because of the impending exit from the EU – this will make things even worse, writes James Moore
Make no mistake, there will be a price to be paid for the shameful behaviour of Boris Johnson and the minority Conservative government propped up by the Democrat Unionists that he heads. But, as ever, it is one that he and his millionaire cabinet colleagues will be able to weather a lot easier than you or I.
The inevitable consequence of the prime minister’s attempt to suspend parliament – his Brexit coup – was to send the pound into free fall. If sustained, that will have the effect of hiking the price of imported goods. Most consumer products are imported.
The FTSE 100 was flat. But it is made up of international companies, many of which make their money in dollars. The FTSE 250 index of second tier, mostly UK based businesses which earn in sterling, is the one to watch. It shed 165 points.
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