UK PM Johnson will pledge an end to Brexit uncertainty at CBI event later on Monday
Speaking at the Confederation of British Industry’s (CBI) annual conference scheduled later on Monday, the UK PM Johnson is expected to show his commitment to end the Brexit uncertainty that has ‘paralyzed’ the economy.
He is also likely to pitch the business leaders with tax breaks worth GBP 1bn, including cutting tax on business properties, reducing an employment tax, boosting tax relief on construction and cutting tax on research and development.
According to advance extracts, as cited by Reuters, Johnson will say, "Britain stuck in gridlock and our economy stuck in first gear. Extension to extension. Marching business up to the top of the hill, only to march them down again."
"With a Conservative majority government, you can be sure we will Get Brexit Done and leave with the new deal that is already agreed – ending the uncertainty and confusion that has paralysed our economy," Johnson will add.
His comments are only likely to add to the latest bullish momentum seen in the pound, as the GBP/USD pair makes it way towards the 1.2950 level.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
