The United Kingdom has had a turbulent couple of years since the Brexit referendum in 2016. During that time, the country officially left the European Union, but what happens now? How are British politicians getting on and what events will shape the country and performance of the economy in the coming year?
London Mayor elections
The London mayoral elections will take place on 6 May 2021 at the same time the rest of the country votes in its local council members. Currently, Labour Party member Sadiq Khan is in the role and has held office for two consecutive terms. He is set to run again but faces some stiff competition from the Conservative candidate Shaun Bailey, Sian Berry from the Green Party, Piers Corbyn as an Independent, Luisa Porrit from the Liberal Democrats, and Count Binface who is running as an independent.
So far, the jury is out on who may win but the page with all the London Mayoral election odds provides an interesting overview based on public opinion. As London is the capital of the UK, who wins the election is important for both the city’s economy and the overall functioning of the country. The position is considered as one of the key political roles in the UK. In fact, in 2018, citizens called for the rights of the whole country to vote in the London mayoral elections, although this was not considered.
UK politics
Brexit was perhaps one of the most divisive political moments in British history. Typically Labour and Liberal voters wanted to remain, while Conservative and UKIP supporters wanted to leave. Although there were some crossovers, this caused a lot of social discontents, including mass protests from both sides. Since Brexit, things appear to have calmed down somewhat although the two sides are still somewhat polarised.
There are no general elections now until May 2024, unless something happens in the meantime. The UK has had a difficult few years with three different Prime Ministers and several snap elections since the Brexit referendum. Some say that the incumbent PM Boris Johnson’s tenure isn’t stable, but when you look at UK politics best tips, you see that there is still quite a lot of confidence in him. But who wins the London mayoral election could impact this as it becomes complex when you have mayor and PM from different political camps.
The economic outcome of Brexit hasn’t been as drastic as many first predicted. While exports have plunged by around 40%, the pound has remained strong and the economy has been resilient in the face of a number of challenges.
The economy
At the start of 2021, the British economy contracted by 2.9% after a slight uptick in December. Some of this contraction was expected as retail sales and other forms of commercial activity tend to drop after the festive season. The economy is currently around the size it was in 2015, but analysts are positive things will pick up soon. It’s expected to grow by 4% during 2021 and an impressive 7% in 2022.
This will be driven by a strong economy and the cultivation of trading agreements with international partners. Overall, the UK is expected to perform much better than the EU which has been experiencing bloc-wide GDP stagnation for some years.
