With the results of the UK General Election in and a majority for the Conservatives, it is looking certain the the UK will leave the European Union on 31st of January.
But it is still not clear what kind of of Brexit the UK will get as Boris Johnstone as he has never said exactly what his Brexit plan is. The transition period can run until the end of December 2022 under current rules, but the Conservatives have pledged not to extend the transition beyond the end of 2020.
EU leaders have expressed cautious confidence that Boris Johnson will form a close economic relationship with the bloc and called for swift ratification of the withdrawal agreement after the prime minister’s election triumph.
The size of Johnson’s majority was welcomed in Brussels, where the 27 heads of state and government have gathered for a two-day summit.
According to CNN: The Conservative Party's campaign manifesto was similarly light on detail, avoiding any real insight into how Johnson plans to negotiate a trade agreement with Europe in just 11 months -- a process that typically takes years.
The Independent reports that the Tories will announce their legislative programme in a Queen’s Speech on 19 December and top of the agenda will be a Withdrawal Agreement Bill, tabled in parliament before Christmas, to ratify Mr Johnson’s deal with Brussels in time to leave on 31 January.
Meanwhile in Scotland the Scottish National Party make huge gains strengthening calls for a second independence vote. In Northern Ireland unionist party the DUP suffered losses while the nationalist parties Sinn Fein and SDLP gained seats.
Sterling gained 2.1% to $1.34 - its highest level since May last year - and a three-and-a-half-year high against the euro.