Brexit Latest – Election odds-on to occur before Brexit

Brexit Latest – Election odds-on to occur before Brexit

This piece was first published on 29th August 2019 for betting.betfair.com

Having spent all summer on tenterhooks, waiting to learn precisely how Boris Johnson’s government plans to deliver its Brexit promises, British politics finally blew up yesterday and entered a new, highly unpredictable phase.

Prorogation exacerbates political divide

Johnson’s decision to prorogue parliament for five weeks starting in mid-September is the most dramatic development since Article 50 was extended in March. Some would say in modern parliamentary history.

It was hailed by Brexiters as an entirely legitimate masterstroke, that wrongfooted scheming Remainers. Among opponents, talk of coups, dictatorships and the end of democracy were commonplace. Sizeable protests sprung up in various cities.

Markets remain unclear of outcome

The process is, consequently, a little clearer but after 24 hours to digest the news, there is no signal whatsoever from betting markets that confidently predicts the outcome.

Granted, the odds about Brexit on 31/10/19 or No Deal During 2019 were matched at new lows – 1.79 and 2.2 respectively – but neither price represents clear favouritism and both have fallen back a little since.

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