Johnson gets his Brexit mandate after landslide victory

The Conservative Party has won a staggering majority in the UK general election, returning Boris Johnson to Downing Street with a mandate to push his Brexit deal through parliament, and to bring to an end a period of deep uncertainty for businesses and the public -- not just in the UK, but also in trading nations.

Congratulating the Prime Minister, director-general of the CBI, Carolyn Fairbairn said Mr Johnson now has a "clear mandate to govern", and that employers share his optimism for the country.

"Businesses across the UK urge him to use it to rebuild confidence in our economy and break the cycle of uncertainty. Employers share the Prime Minister’s optimism for the UK and are ready to play a leading role. They can bring the innovation, investment and jobs for a new era of inclusive growth. The biggest issues of our times – from tackling climate change to reskilling the workforce for new technologies – can only be delivered through real partnership between government and business."

The starting point, she said, must be rebuilding business confidence. "Early reassurance on Brexit will be vital. Firms will continue to do all they can to prepare for Brexit, but will want to know they won’t face another no deal cliff-edge next year. Pro-enterprise policies on immigration, infrastructure, innovation and skills, will help relaunch the UK on the world stage.

“Despite recent challenges, the UK remains a great place to start and build a business. A new contract between enterprise and government can make the UK a global magnet for investment, powering higher productivity and living standards across the UK.”

Commenting on the impact on insurnace, partner at Clyde & C and vice-pice president of FOIL, Jennette Newman, welcomed the greater degree of certainty, while warning that the "spectre of a 'no-deal'" at the end of the implementation period next year is still hovering.

"French insurance supervisor has already begun to question British insurers’ ability to pay claims in Europe post Brexit, which is a taste of potential regulatory machinations still to come," she said. “On the domestic front, the environment in which businesses like ours operate will remain fairly stable. In terms of taxation and governance, it’s steady as she goes.”

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