Analysts at BBH explain that the UK’s Brexit negotiations begin on Monday and come at an awkward time for UK politics as it is not clear that a majority favor leaving the EU anymore.
“In last June's non-binding referendum, the decision to leave was carried by the smallest of majorities (52%-48%). Polls (Survation and YouGov) suggest that a growing majority do not want to leave the customs union, and an increasing number want to priorities unrestricted trade over immigration controls. Nevertheless, the Chancellor of the Exchequer Hammond, rumored to be ousted if Prime Minister May won a resounding victory, as the early pre-election polls pointed to, reaffirmed over the weekend that the UK would indeed leave the single market and customs union. This dashes the hopes that the election would spur a reconsideration of the government's strategy instead of a doubling down.”
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